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The Philippines utilizes renewable energy sources including hydropower, geothermal and solar energy, wind power and biomass resources. [citation needed] In 2013, these sources contributed 19,903 GWh of electrical energy, representing 26.44 percent of the country's electricity needs. [1]
The Philippines being situated on the fringes of the Asia-Pacific monsoon belt, exhibits a promising potential for wind energy with 76.6 GW. [7] Wind power plants are the third most operated renewable energy source in the country. Solar Energy. In 2015, three solar farms were constructed in the Philippines.
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The economic gains of renewable energy usage in the Philippines have not benefited the rural poor either, who are paying much more for electricity than urban users. In response, the national government enacted the Renewable Energy Act in 2008 to prioritize the use of renewable energy and to provide investment incentives for the private sector. [28]
The Philippines is projected to be one of the most vulnerable countries to the impacts of climate change, [5] which would exacerbate weather extremes. As the Philippines lies on the Pacific Ring of Fire, it is prone to natural disasters, like earthquakes, typhoons, and volcanic eruptions.
A subsidiary, the Solar Philippines Nueva Ecija Corp. (SPNEC), which is intended to operate the Nueva Ecija Solar Farm as the world's largest solar farm was listed in the Philippine Stock Exchange in December 2021 [1] [2] SPNEC was renamed as SP New Energy Corp. in 2022. [3] SPNEC began construction of the solar farm in 2021. [4]
The total primary energy consumption of the Philippines in 2012 was 30.2 Mtoe (million Tonnes of oil equivalent), [2] most of which came from fossil fuels.Electricity consumption in 2010 was 64.52 TWh, of which almost two-thirds came from fossil fuels, 21% from hydroelectric plants, and 13% from other renewable sources.
Energy law in the Philippines is important because that nation is one of the fastest growing in Asia, and has over 80 million residents. Researching Philippine law is somewhat complicated, because all laws are numbered sequentially, not by topic or year, and consists of statutes , Presidential decrees, other regulations, and case law .