Mercado, Carmela Pauline B.

ENVISOC C31
11407700 November 6, 2017
In the past billion years, there was a natural course of evolution that was followed. Due to our
increasing population and influence, we have disrupted the Earth’s natural order and ecosystem. Because
of our ability to influence the landscape and be aware of its repercussions, people both have the goal to
achieve stability for themselves and the obligation to maintain the environment as the source of its needs
and wants. One of those resources are its renewable and non-renewable sources of energy which we
convert for different purposes all essential for our necessities and further development. Most of those
energy sources we utilize however are steadily decreasing and have a devastating effect on the
environment whenever we use it. As a result, we are led to seek alternatives for more renewable and
sustainable forms of energy.
With the help of the government as well as the realization of the implications to economic growth
and the environment, more and more companies have been moving towards supporting the use of
renewable energy. According to Olchondra (2016), there are government programs in our country which
promote locally available and renewable energy sources. They have initiatives like the Feed-in-Tariff
(FIT) incentives and an ongoing review of the country’s fuel mix policy. Some power industry players
would even be mandated to get a portion of renewable energy as part of their power supply in accordance
with the Renewable Portfolio Standards (RPS) proposed by the Department of Energy (Palaubsanon,
2017).
In an interview, Solar Philippines Power Project Holdings, Inc. president Leandro L. Leviste said
“The Philippine energy industry right now is undergoing a transition, much like the transition the
telecommunications industry underwent before—from fixed line telephones to mobile phones. The
energy industry is shifting from dirty, 20th century fuels like coal to clean, cutting-edge RE technology”.
“Many people are investing in renewables not really because they are clean or it’s the right thing to do,
but because it’s what makes investment sense now. It’s the future,” Danny Kennedy, founder of the
American solar rooftop company Sungevity said. Given that coal is a finite reserve, it would surely
become more expensive in the future as the stocks decrease making it more logical to invest in renewable
resources because energy coming from sources such as the sun, wind, water, steam, biomass, and even
ocean waves would cost less in comparison. Not only would it benefit the companies but also the people.
According to Energy (DOE) Secretary Alfonso G. Cusi, “Investments in RE facilities and technologies
can create more jobs”. It would also allow consumers to have access to more affordable and sustainable
energy use. (Manila Bulletin Online, 2017)

In the Philippines we have companies that are already diversifying into renewable energy or at
least preparing to go in that direction. Among these companies are Alsons Consolidated Resources,
Aboitiz Power Corp. (AP), Energy Development Corp. (EDC), First Gen Corp. (FGEN), Manila Electric
Co. (MER), Trans-Asia Oil and Energy Corp. (T.A.), Power Barge 103 and Semirara Mining Corp. (SCC).
Even our local banks are supporting this shift as they fund clean energy or alternative fuel projects such as
BDO Unibank and Bank of the Philippine Islands (Olchondra, 2016).
Bibliography:

Manila Bulletin Online. (2017, August 24). PH solar panel facility to revitalize local renewable energy
industry – DOE. Retrieved November 1, 2017, from https://news.mb.com.ph/2017/08/24/ph-solar-
panel-facility-to-revitalize-local-renewable-energy-industry-doe/

Olchondra, R. T. (2016, July 20). More listed firms going into renewable energy. Philippine Daily
Inquirer. Retrieved November 1, 2017, from http://business.inquirer.net/212117/listed-firms-
going-renewable-energy
Palaubsanon, M. L. (2017, July 8). DOE aims for growth of renewable energy industry in the country.
The Freeman. Retrieved November 1, 2017, from http://www.philstar.com/cebu-
news/2017/07/08/1717595/doe-aims-growth-renewable-energy-industry-country