The world has recently witnessed some of the most catastrophic natural events in human history — extreme hurricanes, severe droughts, and unexpected hailstorms, among others — causing economic and social disruption. The Philippines has not been spared, having experienced fierce typhoons over the past several years. Many attribute these extreme weather conditions to global warming or climate change, caused by emissions of carbon dioxide from the combustion of fossil fuels. The rise of climate change issues, coupled with everincreasing oil prices, raises concerns about energy security. To address these issues, the Philippines has followed an increasing global trend toward developing legislation and financial incentives to support the scale-up of renewable energy (RE) resources.
1. What are the driving factors for increasing renewable energy production in the Philippines?
The Philippines enacted Republic Act No. 9513, otherwise known as the Renewable Energy Act of 2008 (the RE Act),1 on 16 December 2008 as the country’s comprehensive legislation on RE development. The RE Act is an investor-friendly piece of legislation, as it improves previous policies and regulations and provides attractive incentives relating to RE activities. It encourages robust growth in the Philippines’ RE sector through the use of both fiscal and non-fiscal incentives.
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