- September 16, 2014
- Posted by: eflorencio
- Category: Association News
In line with the Sustainable Energy Finance (SEF) Program of the International Finance Corporation (IFC) Philippines, a forum on “What’s Happening with Net Metering” was held on September 11, 2014 at the IFC Manila Office.
Net metering represents the first step of a paradigm shift from the traditional generation-transmission-distribution scheme towards individual and community based distributed on-site power generation. Net metering is the first non-fiscal incentive mechanism fully implemented under the Philippine Renewable Energy (RE) Act of 2008. Through the installation of solar photovoltaic (PV) panels up to 100 kW, house owners and commercial establishments can now partly satisfy their electricity demand by themselves.
Excess power generated from the solar PV installation will be delivered to the local distribution grid of the electric distribution utility and will be used to offset the end-user’s electricity consumption. In other words, end-users become “prosumers” or producers and consumers of electricity at the same time. In effect, end-users are able to generate savings on their electricity bill and protect themselves against rising electricity prices. What is even greater to this cause is that end-users can help mitigate the effects of climate change through the use of clean energy technologies. It will also contribute in lessening the country’s dependence on costly imported fossil fuels.
Ms. Sharon Montaner, Chief, Office of the Executive Director of the Energy Regulatory Commission, gave a talk on net metering updates while Ms. Anna Maria Reodica, Senior Manager & Specialist, Utility Economics of the Manila Electric Company (Meralco), discussed net metering schemes from the distribution utility’s perspective.
IFC’s SEF Program is an innovative solution that supports financial institutions through capacity building, technical evaluation and product development to help them finance energy efficiency and renewable energy projects to help reduce carbon emissions. The program has helped IFC’s client banks identify and develop nearly 300 energy projects in their pipeline, 86 of which were financed by Philippine banks. These loans saved about 100,000 megawatt hours of electricity per year.
ADFIAP Consulting (AC) was represented in the forum by Ms. Cora D. Conde, Group Head and Ms. Cristy Aquino, Head of Business Development.