Veco’s power supply model shows PH can go green
WITH 50 percent of its power supply coming from renewable energy sources, Cebu-based Visayan Electric Company (Veco) is a testament that it is possible for the Philippines to go green.
Anton Perdices, Veco chief operating officer, said that 89 percent of this comes from geothermal sources in Negros and Leyte.
“Renewable energy helps mitigate the effects of climate change, lessens dependence on imported fossil fuels. It is cheaper than fossil-based technology in the long term, and the Philippines has a large resource base,” he said during the SwitchPH Renewable Energy Summit at the University of San Carlos–Talamban Campus on Thursday.
As of 2015, around 32 percent of the Philippines’ power supply comes from renewable energy (RE) sources. Meanwhile, only 20 percent of the global power supply comes from RE.
While the distribution utility recognizes the benefits of RE, it also acknowledges the challenges that come with it.
Perdices admitted that while RE may be cheaper than fossil-based technologies in the long term, the initial investment for RE is presently high.
RE currently has reliability issues since it has varying capacity factors.
He said that to provide reliable and competitively priced power, Veco has to maintain a balanced mix of generation sources.
“A balanced mix of renewable and thermal energy sources can address the different levels and patterns of power demand in the most efficient and cost-effective way,” he said.
According to the Department of Energy (DOE), RE has long been a major contributor to the country’s primary energy supply mix.
In 2010, the country’s total energy supply reached 40.7 million tons of oil equivalent (MTOE). Of this amount, 23.4 MTOE was sourced locally, setting the energy self-sufficiency level at 57.5 percent.
RE resources contributed the highest share (68.1 percent) of the indigenous energy supply mix. Among the renewable, geothermal provided the biggest share at 53.2 percent, followed by biomass at 33.3 percent, and hydro at 12.1 percent.
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