Consumers shy away from RE sources due to lack of funding

CEBU, Philippines - Although there is an increasing awareness of power consumers to source power from renewable-energy sources, the lack of capitalization or financing continues to hinder the promotion of green energy.

According to Aldwin Labuga, Philippine project development manager for Conergy Asia and Middle East, access to finance is the top concern among big and small electric consumers in the country.

Labuga suggested that the government should introduce an effective mechanism to push forward the usage of electricity sourced from alternative or renewable supply, such as Solar panels, among others,

The banks for instance, he said has yet to appreciate the provision of special loan facility for renewable energy projects, including those companies that have big electric supply requirements.

Conergy is one of the world’s largest downstream solar companies, specializing in the design, finance, build and operation of high performance solar systems for homes, businesses and utility-scale power.

Aside from promoting the installation of more solar energy farms in the Philippines, Conergy is also tapping the large market potential foe roof top solar energy installations, to industries and even local contractors.

"Industrial users need to make strong partnership with banks in this particular investment," said Labuga.

The Philippines is estimated to have some 246,000 megawatts of untapped renewable capacity. This is 13 times more than the country's current capacity.

Solar energy is one of the most popular and easiest technology available right now.

Founded in 1998, Conergy pioneered the expansion of solar power internationally, and today combines innovative technology, industry-leading engineering with access to capital.

Headquartered in Hamburg, Germany, Conergy has a global sales network and established subsidiaries in 14 countries.  (FREEMAN)