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The Philippines’ dual REC market, with both an unregulated voluntary market and a regulated compliance market, presents a unique opportunity to drive RE adoption across various sectors.
Manufacturing companies increasingly integrate solar power into their operations, demonstrating a proactive approach to increasing their renewable energy mix.
Non-manufacturing sectors, including retail, professional services, and finance, show a high rate of REC adoption, driven by corporate sustainability goals and the influence of companies like McKinsey & Company advocating for RECs.
The smelting industry faces challenges in adopting RE and utilising RECs, primarily due to high energy demands, cost vconcerns, and potentially limited awareness.
Expanding the Philippine Renewable Energy Market (PREM) to include energy-intensive industries like smelting is crucial for driving broader REC adoption and achieving national renewable energy targets.
ASEAN Centre for Energy (ACE) is an intergovernmental organisation within ASEAN structure that represents the 10 ASEAN Member States’ (AMS) interests in the energy sector.
