Philippines

The country’s energy regulator has decided to reduce the levy that finances the FIT program for renewable energy from P 0.2563/kWh to P 0.2226 ($0.004)/kWh. The lower levy is expected to go into effect next month.

World Bank sister organization the IFC has made a $75 million commitment to a green bond recently issued by Philippines based developer AC Energy. Vietnam’s sub-standard financial sector performance has prompted the Asian Development Bank to suggest green bonds could best leverage the country’s renewable energy targets.

The bank continues its involvement in Thailands largest IPP B.Grimm, which is set to grow its renewable energy portfolio. According to ADB, the green bond proceeds will go to nine operational solar PV plants with a cumulative rating of 67.7 MW, and 30.8 MW that are currently still under construction.

The Philippines’ Energy Regulatory Commission (ERC) has said the removal of the 100 kW cap for solar installations under net metering would be difficult for the nation’s grid to accomodate. Meanwhile, a proposal to raise the threshhold is being discussed in the country’s Senate.

The International Renewable Energy Agency wants to unlock the PV potential of the Asia-Pacific region with technical and planning support. It says a better flow of knowledge is needed to close the gap on a regional aim of generating 23% of energy from renewables by 2025.

Despite political hurdles in key markets including China, India and Japan, Asia remains highly active. This year, 59 GW of solar is expected to be installed and due to further system price declines, a phase-out of subsidy schemes can be offset.

Heated opposition to a legislative bill in the Philippines has sparked debate over subsidies for renewables and the potential for battery-backed PV systems to expand rural electricity access.

Under the current scheme, rooftop PV remains far below its huge potential in the country. Regulatory, administrative and financial hurdles are preventing more electricity consumers from installing rooftop arrays, as well as the resistance of local utilities.

In a tender for 50 MW of solar, local PV module manufacturer and project developer, Solar Philippines submitted a bid of P2.34 (US$0.044) per kWh.

The PV maker plans to shift its 800 MW of E-Series production to its new NGT technology, as it records a massive loss on depreciation of its old equipment. The move was revealed in second-quarter figures featuring plenty of red ink.