THE Philippine Solar and Storage Energy Alliance (PSSEA) has urged the Department of Energy (DoE) to ensure that the fourth round of green energy auction (GEA-4) goes ahead with no delays this year to reassure investors.
“The industry strongly urges the Department of Energy… to relentlessly pursue its net zero emission goals by ensuring the implementation of the contracting round for solar in the first quarter of 2025,” the alliance said in a statement at the weekend.
The GEA program establishes the framework for facilitating timely investments for new and additional renewable energy (RE) capacities, to ensure the adequate supply of RE under a competitive process.
The program is designed to help the Philippines achieve its renewable energy goal which is to increase the RE share of the power generation mix to 35% by 2030 and 50% by 2040.
The government had planned to conduct two auction rounds last year but had to postpone.
“The one-year gap in the scheduled auction has already caused jitters for potential investors,” the PSSEA said.
“Any further delay on the upcoming (GEA-4) will have significant impact on the commitment of funders and partners,” it added.
GEA-4 is designed to cover integrated renewable energy and energy storage system (IRESS), an energy solution that combines renewable energy technology with energy storage systems.
Energy storage systems help address the intermittency of renewables such as solar and wind by storing excess energy when it is available and releasing it when the grid needs it.
Investors are awaiting the auction round for floating, rooftop, and land-based solar, the PSSEA said.
“The additional installations resulting from the auction will increase the share of solar in the energy mix, and the fulfillment of the government promise to hold yearly auctions will greatly improve the credibility of this administration in its commitment to the transition goals,” it said.
The PSSEA said that IRESS could provide a short-term solution and encourage the building of additional solar capacity.
“We urge the DoE to remain steadfast in its commitment to renewables and introduce storage solutions to the 2025 auction schedule,” the alliance said. — Sheldeen Joy Talavera