Top

Intra Day Investing

  /  Economy   /  2040 capacity target for new-build renewables set at 52,826 megawatts

2040 capacity target for new-build renewables set at 52,826 megawatts

Solar panels are being installed on the roof of a mall. — GREEN HEAT HANDOUT PHOTO

THE Department of Energy (DoE) said it has set a target of 52,826 megawatts (MW) of additional renewable energy (RE) capacity by 2040 or seven times the current level.

Marissa P. Cerezo, director of the Renewable Energy Management Bureau, said at a briefing led by the Center for Energy, Ecology, and Development on Saturday that solar energy will account for 51.5% or 27,162 MW of the targeted new construction.

Ms. Cerezo added that wind will account for 16,650 MW with the remainder consisting of hydro, geothermal, and biomass.

“The basis of this figures are the projects we have now registered at the department. These projects are at different stages, (and the projections are weighted towards) those that are in the development stage that are already undergoing construction,” Ms. Cerezo added.

Currently, RE capacity is 7,914 MW. In 2021, RE accounted for 29% of the power capacity mix and 22% of gross power generated. Coal accounted for the biggest share of installed capacity and power generation at 44% and 58% respectively.

The DoE is also looking to address the intermittency issues for the various forms of RE such as solar and wind, by enhancing weather forecasting system, according to Ms. Cerezo.

In the DoE’s energy plan, the department is looking to increase the share of RE to 35% by 2030 and to 50% by 2040. — Ashley Erika O. Jose

Post a Comment