In recent years, the Philippines has been moving away from traditional sources of energy and striving for cleaner and more affordable renewable energy.
Last year's moratorium on coal-fired power plants also shows that we're finally ready to embrace renewables and move further away from fossil fuels and their harmful effects on the environment and the economy.
We're finally seeing the much-needed sense of urgency from the government to address the climate crisis we're facing today. But what exactly are the government's plans for us to achieve our renewable energy goals?
We've set ambitious goals for renewable energy in our country. Last year, the Department of Energy (DOE) revised its RE targets in its National Renewable Energy Program (NREP). From a 54% RE share in our country's energy mix, the updated NREP proposed a target of 55.8% by the year 2040 and 37.3% by 2030. The government also revised its target to reduce greenhouse gas (GHG) emissions by 75% between 2020 and 2030. This gives us hope that those in power are finally hearing our calls for a regenerative future and are more willing than ever to support renewable energy programs and investments.
However, a complete shift to renewable energy is not an easy feat; the private and public sectors need to work in harmony to reach the RE targets that we've set. We need programs and frameworks to guide us on our journey toward a regenerative future.
RCOA and GEOP
Energy Development Corporation (EDC) is one of the leading private entities in the country that collaborates with other businesses and the government to spearhead the shift to renewable energy.
This year, the Green Energy Option Program (GEOP) was rolled out in select regions in our country. This program allows business owners with average monthly electricity consumption of 100 kilowatts (kW) to exclusively source their electricity from renewable sources like hydro, wind, solar, and geothermal through licensed GEOP suppliers like EDC's BacMan Geothermal, Inc. and Green Core Geothermal, Inc. subsidiaries. Aside from being able to do their part in saving the environment, business owners who will be participating in this program can enjoy reliable electricity at affordable charge rates.
Alongside GEOP is the Retail Competition and Open Access (RCOA). The program empowers business owners, whose average consumption during the last 12 months reached a minimum of 500 kW, to choose their own retail electricity supplier. This means that, in the future, corporations and business entities can choose a clean and reliable energy source to power their businesses.
But how can RCOA and GEOP make a positive impact on the lives of Filipinos?
The Real Value of RCOA and GEOP
Corporations and businesses are some of the biggest contributors to greenhouse gas emissions. This is why programs that incentivize the use of RE like RCOA and GEOP will be our country's stepping stone in our collective effort to reduce carbon emissions, allowing us to combat the climate crisis.
Aside from effectively reducing our carbon emissions, renewable energy can also improve public health. The World Health Organization (WHO) estimates that 7 million people each year perish from respiratory complications caused by breathing polluted air from the burning of fossil fuels.
The shift can also help the country recover economically, as the RE industry is one of the fastest-growing industries in the world. Renewables can promote economic growth, especially in rural areas of the country where communities can benefit from jobs created from RE projects and investments.
With RE programs like RCOA and GEOP, we can improve the overall quality of life for Filipinos and that of future generations. Renewables hold the key to a better future.
The Energy Development Corporation (EDC) is the leading 100% clean, renewable energy company in the Philippines, with over 40 years of experience in geothermal technology. With power plants situated across the country, EDC is the world's largest vertically integrated geothermal company. The company also strives to provide the best customer and value-adding services to all its customers. To learn more about lowering your business' carbon footprint by shifting to renewable energy, visit energy.com.ph or email sales@energy.com.ph.
