ERC reviewing ocean energy FIT

The ERC has revived and is reviewing a feed-in-tariff (FIT) rate for electricity generated from ocean technology, which was earlier deferred because of the lack of sufficient data to support the formulation of a rate.  ERC Director III Debora Anastacia T. Layugan in a briefing on Wednesday at the Discovery Suites said the decision to defer setting a FIT rate was due to the lack of comprehensive data about the technology, the absence of technical expertise in ocean energy development, and high upfront cost.  Read more here.

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