SOLAR energy producers waiting to receive feed-in-tariff (FiT) will have to wait until the Department of Energy (DOE) and Energy Regulatory Commission (ERC) complete their ongoing investigation, according to energy officials.
The FiT system is one of the policy mechanisms provided in the law being implemented by the DOE to encourage the development of the renewable energy (RE) industry as the agency aims to maintain a 30 percent share of clean energy in the country’s power mix.
The delay in issuing FiT means, those who have applied for feed-in-tariff certificate of compliance (FIT-COC) can now expect only the certificate of compliance (COC), said the commissioner of ERC, Alfredo J. Non.
The current FiT rate represents a premium compared with what solar power developers would get if they sell their output via the wholesale electricity spot market.
In the second round, solar developers that will be completing and producing power from their projects before the March 15 deadline or until the 500-MW installation target is breached will be eligible to receive the new P8.69 per kilowatt-hour FIT rate, among other incentives.
Including the solar projects in the first round of FIT for solar, a total 525.95 MW in capacity were given COE-FIT by the DOE, exceeding the FIT allocation of 500 MW set by government.