While the ESCO market in the Philippines has over a quarter-century history behind it, it received a huge boost when an inclusive and comprehensive energy efficiency law was enacted in 2019.
This webinar will cover progress since the enactment of the 2019 law, what is needed to reach its goals and how ESCOs can play a pivotal part in reaching them, as well as the barriers hindering this.
The law, Republic Act 11285, mandates energy efficiency adoption in the public sector through a “whole-of-government” approach, and imposes strict obligations across all private sector energy users consuming at least 50,001 kWh/year in fuel and electricity.
The goal is to shave off 182 mega tonnes of oil equivalent (Mtoe) from the Philippine’s energy demand in the next 2 decades. This will have to be supported by the setting of minimum standards across products, vehicles and buildings, the certification of ESCOs and energy efficiency professionals, the granting of fiscal and non-fiscal incentives and the expanded enforcement powers of the Department of Energy.
The Philippine Energy Efficiency Alliance (PE2) believes that at least two-thirds of the USD 243 billion energy efficiency investment gap through 2040 will have to have to be bridged through off-balance sheet capital flows, most of which through ESCO performance contracts.
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