Renewable energy Flashcards
Purpose of renewable energy?
- to lessen the use of fossil fuels;
- it is use as a tool to effectively prevent or reduce harmful emissions and balance the goals of economic growth and development with the protection of health and the environment; and
What is biomass resources?
non-fossilized, biodegradable organic material originating from naturally occurring or cultured plants, animals and micro-organisms, including agricultural products, by-products and residues such as, but not limited to, biofuels except corn, soya beans and rice but including sugarcane and coconut, rice hulls, rice straws, coconut husks and shells, corn cobs, corn stovers, bagasse, biodegradable organic fractions of industrial and municipal wastes that can be used in bioconversion process and other processes, as well as gases and liquids recovered from the decomposition and/or extraction of non-fossilized and biodegradable organic materials;
What is distribution utility?
refers to any electric cooperative, private corporation, government-owned utility or existing local government unit which has an exclusive franchise to operate a distribution system in accordance with its franchise and Republic Act No. 9136;
What is the law mandating the restructuring of the electric power sector and the privatization of the National Power Corporation?
Electric Power Industry Reform Act of 2001
What is the independent quasi-judicial regulatory agency that was created pursuant to Republic Act No. 9136?
Energy Regulatory Commission
Who shall set the minimum percentage of generation from eligible renewable energy resources and determine to which sector RPS(Renewable Portfolio Standards) shall be imposed on a per grid basis?
It shall be the National Renewable Energy Board (NREB)
What is the Feed-in Tarriff (FiT) System?.
It is a scheme that involve the obligation on the part of electric power industry participants to source electricity from RE generation at a guaranteed fixed price applicable for a given period of time, which shall not be less than twelve (12) years, to be determined by the ERC.
It shall be mandated for wind, solar, ocean, run-of-river, hydropower, and biomass power plants within the territory of the Philippines;
What is Green Energy Opinion Program?
it is a mechanism to be established by the DOE which shall provide end-users the option to choose Renewable energy Resources as their source of energy.
NOTE: Any end-users who shall enroll under the Green Energy Option program shall be informed, by way of its monthly electric bill, how much of its monthly energy consumption and generation charge is provided by RE facilities.
What is adoption of waste-energy technology?
it shall refer to systems which convert biodegradable materials such as animal manure or agriculture waste into useful energy.
What are fiscal incentives for renewable energy projects and activities?
A. Income Tax Holiday (ITH)
B. Exemption from duties on Renewable Machinery, Equipment and Materials
C. Special Realty Tax Rates on Equipment and Machinery
D. Net Operating Loss Carry-Over (NOLCO)
E. Corporate Tax Rate
F. Accelerated Depreciation
G. Zero Percent Value-Added Tax Rate
H. Tax Exemption of Carbon Credits
I. Tax Credit on Domestic Capital Equipment and Services Related to the Installation of Equipment and Machinery
What is the period of availment for Income Tax Holiday (ITH)?
Duly registered RE shall be fully exempt from Income taxes levied by the National Government for period of:
a. Existing RE Projects - seven (7) years from the start of commercial operations;
All RE Developers that acquire, operate and/or administer existing RE facilities that were or have been in commercial operation for more than seven (7) years, shall not be entitled to ITH, except for any additional investment.
b. New investment in RE Resources - seven (7) years from the start of commercial operations resulting from new investments; and
c. Additional investment in the RE Project - not more than three times the period of the initial availment by the existing or new RE project covering new or additional investment.
The maximum period which an RE Developer may be entitled to an ITH shall be twenty one (21) years, inclusive of the initial 7 years of ITH for its new and additional investments in a specific RE facility.
