We greatly depend on non-renewable energy which is nearing its depletion. The use of fossil fuels also contributes to environmental degradation and global warming. Thus, there is a need for a cleaner and more sustainable energy source, a shift to renewable energy.
The Philippines has a lot of potential for its renewable energy. It is one of the largest producers of geothermal energy in the world, there are a lot of possible sites for wind power, tapping solar power is feasible with the continuous sunlight we receive, and our ability for generating tidal power is unmatched. The country sources 35% of its total power requirements from renewable energy.
This is a practical choice over non-renewable fossil fuels but high capital cost and availability of technology have prevented growth of the industry in the country. The approval of Feed in Tariff (FIT) rates by the Energy Regulatory Commission in 2012, however, has drawn more investments.
President Benigno Aquino III, during the 1st Philippine BioEnergy Conference, said that renewable programs allow the country to contribute to the worldwide effort to mitigate the impact of climate change. “After all, the Philippines is one of the countries most vulnerable to its effects and we are hoping that the rest of the world would join us in proactively responding to what is perhaps the most pressing challenge of our age,” he said.
He added that exploring alternative energy options is a noble endeavor. It can be economically viable and can contribute to the alleviation especially in our rural areas and move us closer to our goals at equitable progress and inclusive growth.
On February 26, 2015, President Aquino and French President François Hollande called for climate action, climate solidarity and justice, and climate cooperation which are hoped to be agreed upon during the Paris Climate Change Conference that will be held by the end of the year.