The Department of Energy issued the guidelines for the operationalization of the Renewable Energy Trust Fund that will be used for the research, development and promotion of renewable energy sources.
The RE fund, according to Department Order 2018-10-0018, will be obtained from the emission fees collected from power generating companies under the Philippine Clean Air Act, 1.5 percent of the net annual income of the Philippine Charity Sweepstakes Office, 1.5 percent of the net annual income of the Philippine Amusement and Gaming Corp. and 1.5 percent of the net annual dividends remitted to the national treasury by Philippine National Oil Co. and its units.
Other sources of the fund include grants, contributions, donations which will tax deductible, 1.5 percent of the proceeds of the share of the government collected from the department and use of indigenous non-RE sources, any revenue generated from the utilization of the RETF and proceeds from the fines and penalties imposed under Republic Act No. 9513.
