Philippines government says no to new coal plant proposals

first_img FacebookTwitterLinkedInEmailPrint分享24 Pilipinas:The Duterte administration will no longer accept proposals to construct new coal power plants, a dramatic shift in energy policy that counts on declining costs of renewables to attract clean power investments.The moratorium was announced in tandem with the relaxation on foreign ownership limits in geothermal energy, doubling down on the slow transition to clean power seen as a long-term fix to the Philippines’ supply problems and now even sky-high power costs.When President Rodrigo Duterte took office in 2016, his government abandoned a policy of his predecessor that prioritized renewables in favor of one that disregarded the energy source so long as it improves the country’s baseload capacity to meet the demand of a growing economy.As a result, by 2017, the latest period on which data is available, coal projects proliferated, eating up a larger pie of the country’s energy mix at 26.7%. This happened while the share of renewables declined to just 39% in the same year from as much as 46.1% in 2006.At the time, coal and other fossil fuels were still deemed cheaper than renewables even though 15.8% of the former were being imported and therefore translated to import costs passed on to consumers. But times have changed and Sara Ahmed, energy finance analyst at Institute for Energy Economics and Financial Analysis, a think tank, said the government’s energy shift is very timely.“The costs trajectory and the current costs of renewable energy, per kilowatt energy when generated domestically is getting cheaper than imported coal and imported gas,” Ahmed said in a phone interview. “The constraints we previously thought we have, we don’t actually have,” she added.More: Government ends energy neutrality, favors renewables ahead of boom Philippines government says no to new coal plant proposalslast_img read more

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The short-term perks of renting

first_img 50SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Derek San Filippo Derek is a freelance writer who spends his off time either working with his rescue animals or writing children’s books. He lives in San Diego with his beautiful wife … Web: www.financialfeed.com Details Most folks have the dream of owning their own home. They want that piece of land that belongs to them. That’s totally fine. But while being a homeowner might sound good, it might not make much sense considering where you might be, financially speaking. So, what are the benefits of renting? Are there any benefits at all? The short answer is yes. It might not be what someone wants in the long run, but the short-term perks of renting can potentially outweigh your interest in buying a home.MaintenanceThis is the biggest and easiest one to keep in mind. The 1 percent rule states that you should save at least 1 percent of the value of your home and set it aside for maintenance. So, if your house is valued at $580,000, you’ll need to set aside $5,800 a year. When you rent, all maintenance costs go to the landlord. If the dryer is busted, the landlord takes care of it. If the roof flew off in a freak storm, the landlord pays for it. All the pressure of finding the right repairman and covering costs suddenly vanish and you save $5,800 a year.No Property TaxesThere’s not much explanation needed here. If you’re a homeowner, you’re going to pay property tax. If you rent, you don’t. Property tax can be $4,000 or more annually, depending on your home’s value and the land. You’ll save potentially several thousand dollars a year by renting instead of owning.Insurance CostHomeowner’s Insurance is required if you’re going to purchase a home. On average, you’re looking at spending around $1,200 in homeowner’s insurance, depending on the value of your home. Renters can obtain renter’s insurance to cover their personal goods in the event of some sort of loss, like a fire. It does pretty much the same thing as homeowner’s, but only costs $12 – $20 a month, according to Investopedia.ConclusionTake a moment and consider the potential financial benefits you get now before jumping into buying a home. This is not meant to deter you from homeownership, but to educate and encourage to take a step back and think.last_img read more

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