52,826 MW of new renewable supply needed by 2040—DOE
By Manila Standard Business – April 7, 2024, 9:05 pm
The Philippines will need 52,826 megawatts (MW) of additional renewable energy capacity by 2040 to meet the target, according to the Department of Energy (DOE).
DOE assistant secretary Mylene Capongcol said during the Philippine Electric Power Industry Forum of the Independent Electricity Market Operator of the Philippines on Friday that “to reach the RE target, a total of 52,826 MW additional RE capacity is needed by 2040, which is almost seven times the current level at 8,264 MW.”
She said this would also be equivalent of 175 terawatt-hours of renewable energy generation.
The bulk of the expected capacity will come from new solar projects at 27,162 MW, wind at 16,650 MW, geothermal at 2,500 MW, hydro at 6,150 MW and biomass at 364 MW.
The RPS mandates electricity suppliers to source an agreed portion of their energy supply from eligible RE resources. This will help the government achieve the 35-percent RE share by 2040, reaching 65,316 MW by 2040.
Capongcol said the DOE increased the RPS annual incremental requirement from 1 percent to 2.52 percent starting 2023 for grid-connected areas. The DOE last year issued two circulars governing the RPS rules for both on-grid and off-grid areas.
Energy Secretary Raphael Lotilla signed Department Circular DC 2023-05-0015 amending the RPS rules for on-grid areas and adjusting the annual incremental RE percentage to 2.5 percent.
The DOE said all mandated participants, in complying with their respective RPS requirements, should conduct least-cost sourcing of power supply.
The DOE also issued DC 2023-05-0014 promulgating the revised rules and guidelines governing the operationalization of the RPS for off-grid areas.
