Clean energy act may save $3 billion in the Philippines

The Philippines can save over US$2.9 billion now that the country's Senate has passed the Renewable Energy Act -- legislation that had spent 19 years in limbo -- a study by WWF and University of the Philippines has found.

The savings will come from increasing the country’s renewable energy
share in its power generation mix from 0.16% to 41%, the report said.
These renewable energy sources include wind, solar, ocean,
run-of-river hydropower and biomass.

The money saved by creating more renewable energy can be used for
social and infrastructure programs, the report added. "We can send 17
million children to school, build 250,000 classrooms, establish
135,000 health centres, feed three million families and build 38,000
kilometres of farm-to-market roads," Renewable Energy Coalition
spokesperson Catherine Maceda told WWF.

The landmark legislation aims to accelerate the development and use of
the nation’s vast renewable energy resources through fiscal and
non-fiscal incentives for investors.

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