May 2, 2024
More companies in PH maximize profit with renewable energy shift. Here’s how.
Industry Updates
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Demand for renewable energy (RE) in the Philippines is increasing as more customers, including micro, small, and medium enterprises (MSMEs), industries, schools, and residential buildings, are realizing the benefits of switching to electricity generated from indigenous and sustainable energy sources. As more businesses and consumers shift to renewables, investors are also incentivized to develop more RE generation plants.
The government’s push for renewable energy is becoming more evident in the country’s energy mix. While coal and natural gas still take up the biggest share of the mix among fuels used to produce electricity, data from the Department of Energy (DOE) show that the share of renewable energy (RE) in the country’s total installed capacity increased by 4.4 percent last year compared to 2021. Installed capacity refers to the sum of the potential output of all existing power plants in the country. Renewables comprised 30 percent, of the total 28,291 MW of installed capacity as of end-2023. Previously, the country had 29 percent of the total 28,258 MW capacity from geothermal, hydro, biomass, solar, and wind technologies.
Among the prime movers in this shift to renewable energy in the country is the Ayala group’s ACEN, which continues to develop a diversified portfolio of RE projects located both in the Philippines and abroad.
Apart from building new RE capacity, the company’s retail unit, ACEN Renewable Energy Solutions (ACEN RES), supports the government’s Green Energy Option Program (GEOP), which encourages customers with significant power demand to purchase RE supply from a licensed supplier.
The Green Energy Option Program (GEOP)
Under the GEOP, companies or establishments with an electricity demand of at least 100 kilowatts for the past 12 months are eligible to sign up.
Apart from planet-friendly electricity, consumers enjoy savings on their electricity bills and benefit from the VAT zero-rated purchase of renewable energy.
More importantly, by switching to GEOP, they contribute to mitigating the effects of climate change without spending on the installation of rooftop solar panels.
The switch to GEOP does not involve any change in the physical connection of the customer’s facility to the power grid and does not result in power interruptions.
Reducing operational costs, especially for essential expenses like power, is a priority for businesses of all sizes. Switching to renewable energy can not only save money but also benefit the environment.
If you are planning to switch your business to renewable energy , ACEN RES is here to help. Call 09178227542 or 09178318708 for a free, no-commitment consultation.
ACEN Renewable Energy Solutions (ACEN RES) is the supply retail electricity unit of the Ayala Group. It is a licensed retail electricity supplier and renewable energy solutions provider powering businesses and industries through the Retail Competition and Open Access (RCOA) and the Green Energy Option Program (GEOP).
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