Overview

The renewable energy market has experienced rapid growth over the past several years. This is partly due to an increased global consciousness of the dangers of climate change and the need to focus on sustainable and environmentally friendly sources of energy.

In 2008, the Philippine Renewable Energy Act was signed into law. The Act declares it State policy to accelerate the exploration and development of renewable energy resources, increase the utilization of renewable energy, and establish the necessary infrastructure and mechanisms to develop the Philippine renewable energy market.

The Act aims to achieve this objective through the establishment of fiscal incentives for enterprises engaged in the exploration, development and utilization of renewable energy sources or the actual operation of renewable energy systems or facilities.

Sycip discusses the implications of the Act in-depth.

To read more click ‘view briefing’.