As much as 11,600 megawatts worth of renewable energy (RE) capacity is seen completed in the next three years with the release by the Energy Regulatory Commission (ERC) of the final reserve price schedule of the second Green Energy Auction (GEA-2) program.
GEA-2 involves ground-mounted solar, rooftop solar, floating solar, onshore wind, and biomass waste-to-energy technologies.
The reserve price is the GEA-2 ceiling price of the program where renewable energy producers compete for incentivized fixed-power rates offering their lowest for a given capacity.
The ERC has determined the reserve price for GEA-2 at P4.4043 per kilowatt hour (kWh) for ground-mounted solar; P4.8738 per kWh for rooftop solar; P5.3948 per kWh for floating solar; P5.8481 per kWh for onshore wind; P5.4024 per kWh for biomass; and P6.2683 per kWh for biomass waste-to-energy.
It said the rates were decided after a thorough deliberation of the various views and comments submitted by stakeholders and guided by the policy objectives of the Electric Power Industry Reform Act and the RE Act of 2008.
Under GEA-2, a total 3,600 MW is seen running by 2024 broken down to 2,025 MW in ground-mounted solar, 1,200 MW onshore wind, 235 MW rooftop solar and 140 MW biomass.
For 2025, another 3,600 MW is targeted comprised of 2,140 MW for ground-mounted solar, 1,170 MW for onshore wind, 260 MW for solar rooftop and 30 MW for biomass.
For 2026, DOE targets to attract completed renewable energy investments worth 4,400 MW to benefit under GEA-2 by then for 6,715 MW of ground-mounted solar, 3,720 MW of onshore wind, 605 MW of solar rooftop, 300 MW of floating solar, 230 MW of biomass and 30 MW of waste-to-energy.
According to the DOE, the installed renewable energy capacity for both on-grid and off-grid areas total 8,321 MW equivalent to 28.8 percent of the 28,932 MW installed capacity for the period.
Renewable energy technologies recognized by the DOE include geothermal, hydro, biomass, solar and wind.
Battery systems are counted under a different section totaling 96 MW plus 49 MW from hybrid diesel-battery systems.
