Energy sector sees no hurdle from US Trump administration's stand on RE
A pumpjack operates in the foreground while a wind turbine at the Buckeye Wind Energy wind farm rises in the distance, Sept. 30, 2024, near Hays, Kan. (AP Photo/Charlie Riedel, File)
The growth of renewable energy (RE) shows no signs of slowing down despite the reluctance of the United States (US) toward clean energy technology, as the local energy sector sees little to no impact from the current Trump administration’s position.
According to Allan Barcena, assistant vice president and head of corporate social responsibility (CSR) at Energy Development Corp. (EDC), the Philippines is expected to see minimal effect on its RE fleet and partnerships with other countries.
“I think one impact or effect is the reduction of financial and technical assistance. In the past, we’ve been a recipient of technical assistance and grants from the US in terms of developing more RE in the Philippines,” he said.
“I think there are other big countries that are still pushing for more RE,” he added, citing other nations pushing for a better climate agenda.
On the part of the Department of Energy (DOE), Undersecretary Mylene Capongcol explained that the RE sector will remain unfazed by the current energy plans of the US under President Donald Trump, whose opposition to renewables has been driving up the cost of developing new energy resources.
“Most of the investors in the RE or in the energy space are from Filipino companies and then Chinese or other Asian countries. We all know that even the engineering procurement contractors are mostly from the Chinese firms,” Capongcol said, adding that she believes the private sector would determine the most cost-effective development plans for their energy assets.
Earlier this week, the Institute for Energy Economics and Financial Analysis (IEEFA) noted that the current US administration’s energy dominance agenda could risk more investments, as this order was designed to expand domestic oil, gas, and coal production, export more fossil fuels, and reduce reliance on foreign energy sources.
Last month, the DOE partnered with the US to look into hydrogen exploration works in Zambales. The partnership, which would need President Ferdinand Marcos Jr.’s signature, will help evaluate more new energy sources for the country.