Phillippines ERC releases feed-in-tariff rates for renewable energy

The Energy Regulatory Commission on Friday approved the long-awaited feed-in tariffs (FIT) for renewable energy sources, a move expected to encourage investors in the industry.

Investors in hydro energy will get a FIT rate of P5.90/kWh, while those for biomass will get P6.63/kWh; for wind - P8.53/kWh and for solar P9.68/kWh. No FIT for ocean thermal energy conversion resource was set, pending further study.

The Renewable  Energy Act of 2008 (RE Act) mandated FITs for wind, solar, run-of-river hydro,  biomass and ocean resources, to encourage developers to invest in the renewable energy industry.