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Chiz pushes for tax incentives for renewable energy developers

By Office of Senator Chiz Escudero
March 4, 2016

PASAY CITY – Independent vice-presidential candidate Sen. Francis “Chiz” Escudero said the next administration should offer incentives to lure renewable energy developers into the country to ensure a stable supply of electricity.

The vice-presidential frontrunner said providing tax incentives to companies that would venture into renewable energy development will help keep a steady supply of power in the long-run in areas with energy woes like Bantayan Island in Cebu, also known as the “egg basket” of the Visayas.

“It’s a pity that many of parts of our country still experience power problem when we already have the resources for various renewable energy projects,” Escudero said.

“We have to come up with incentives for investors to consider renewable energy development, which is not only sustainable but a cheaper power source as well,” he added.

Data from the Department of Energy showed that as of 2014, only 37 percent of generated power was supplied by renewable sources while 63 percent came from non-renewable energy, mainly coal.

Of the renewable sources, less than one percent was from wind and solar energy.

Escudero, who is running as Sen. Grace Poe’s vice president under the Partido Galing at Puso, stressed the need to resolve the region’s power shortage as he pointed out how tourism and business outsourcing, which are thriving in the region, are dependent on power.

The veteran lawmaker said power problems and the lack of infrastructures are preventing the Philippines from becoming a top tourist draw even though the country has more beautiful sights to offer than its neighbors in Southeast Asia, such as Bantayan Island’s powdery soft white sand beaches.

Last year, 5.36 million international tourists visited the Philippines but was just over half of the DOT’s five-year target for 2016 of 10 million arrivals.

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