A lawmaker on Friday urged the Aquino administration to speed up efforts in implementing the mechanisms provided under the Renewable Energy Act, noting that any delay would cost the country.
Since the law’s passage in 2008, the government has yet to hurdle past the first incentive that is much awaited by local renewable energy (RE) developers, which is the feed-in-tariff rate. All other mechanisms such as renewable portfolio standards and green option, among others, have yet to be implemented.
“With these delays, the window becomes narrower for our country to capitalize on the business opportunities presented by the global shift to renewables,” Sen. Edgardo J. Angara said in a statement.
“Aside from the obvious environmental benefits of renewable energy, the government should also consider the large number of green jobs the industry could generate,” Angara said.
Citing the World Watch Institute, Angara said there were around 2.3 million jobs worldwide in the renewable energy sector and that the number was continuously rising.
Global investments in renewable energy reached a record $211 billion in 2010, according to the report Global Trends in Renewable Energy Investment 2011 conducted jointly by the United Nations Environment Programme (UNEP), the Frankfurt School’s Collaborating Centre for Climate and Sustainable Energy and Bloomberg New Energy Finance.
“Many economies—both developed and developing—are putting money into their renewable energy industries. If we do not act now to build our own capacities in wind, solar, geothermal, biofuel or biomass, we let ourselves get left behind,” Angara explained.
“Investors have already cited the Philippines as a prime source for renewable energy and have expressed interest in investing in the country. I’m hopeful that the government takes heed and finally lays down a clear policy for renewables,” he added.
Angara was the lead author of RA 9513, known as the Renewable Energy Act of 2008, which promotes the establishment of a renewable energy industry in the Philippines. The senator has also been pushing for the establishment of the Renewable Energy Research and Development Institute (RERDI) as a public-private partnership (PPP) in developing RE technologies.