Imperial Homes Corporation (IHC) has launched a solar net-metered community in Cavite, the first of its kind in the Philippines. This move will allow qualified customers to produce their own power using renewable energy (RE) facilities, such as solar panel systems. The excess power will be sold to distribution utilities for credits that can be used to offset power bills.
The RE facilities are expected to generate about PHP1.2 billion in savings for the community over a period of 25 years as well as offset around 45,000 tons of carbon emissions. The consumers will also be provided with an option of supplying generated energy to the Luzon power grid.
The entire project is targeted to be completed by 2025. The company is also looking to expand the project to Nueva Ecija in the future.
This move followed the Energy Regulatory Commission’s (ERC) revision of its net metering regulations in 2019 to allow for a simplified permitting procedure and lowering installation soft costs for RE facilities, among others.
