MAY 31, 2013

NR # 3120B

Solon to propose incentives to promote shift to green energy

A lawmaker has underscored the need for homes and establishments to shift to green energy as global warming continues to bring unpredictable weather changes, prevalence of storms and an environment getting extremely humid. Rep. Susan A. Yap (2nd District, Tarlac) said the present law, Republic Act 9729 also known as the Climate Change Act of 2009, provides for the formulation of strategies on mitigating greenhouse gases and other anthropogenic causes of climate change. Greenhouse gases are emitted when fossil fuels, coal, oil and natural gas are burned. There is a need to shift to green energy which refers to sources of energy that are friendlier to the environment, Yap said. But Yap said since the initial costs of shifting to green energy are not always cheap as it is an investment in itself, there is a need to provide incentives for homes and establishments to make the shift. This requires more than just appeals to ones sense of responsibility in caring for the environment. There is a need to cushion the impact of the initial expenses which almost always discourage those who might want to consider green energy, she said. In House Bill 2896, Yap sought to establish the Green Energy for Homes and Buildings Program in the Department of Energy to promote residential, commercial, and industrial, scale energy efficiency and on-site renewable technologies. In administering the program, the bill directs the Secretary of Energy to establish eligibility criteria for applicants for financial assistance who can offer financial products and programs consistent with the purpose of this Act. For those applicants determined to be eligible under criteria established under the bill, the Secretary may authorize the provision of financial assistance in the form of direct loans, letters of credit, loan guarantees, insurance products, other credit enhancements or debt instruments or other financial products. This is to promote the widespread deployment of, and mobilize private sector support of credit and investment institutions for energy efficiency measures and on-site renewable energy generation systems in buildings, Yap said. The bill provides that not later than one year after the commencement of operation of the Program and at least biannually thereafter, the Secretary shall submit to the Committee on Energy of the Senate and the Committee of Energy of the House of Representatives a report that includes description of the Program in meeting the purpose and goals established by or pursuant to this Act. (30) mvip