(g) “Department of Finance” (DOF) refers to the government agency created pursuant to Executive Order No. (f) “Department of Environment and Natural Resources” (DENR) refers to the government agency created pursuant to Executive Order No. 7638 whose functions are expanded in Republic Act No. (e) “Department of Energy” (DOE) refers to the government agency created pursuant to Republic Act No. (d) “Co-generation systems” refer to facilities which produce electrical and/or mechanical energy and forms of useful thermal energy such as heat or steam which are used for industrial, commercial heating or cooling purposes through the sequential use of energy (c) “Board of Investments” (BOI) refers to an attached agency of the Department of Trade and Industry created under Republic Act No. (b) “Biomass resources” refer to non-fossilized, biodegradable organic material originating from naturally occurring or cultured plants, animals and micro-organisms, including agricultural products, by-products and residues such as, but not limited to, biofuels except corn, soya beans and rice but including sugarcane and coconut, rice hulls, rice straws, coconut husks and shells, corn cobs, corn stovers, bagasse, biodegradable organic fractions of industrial and municipal wastes that can be used in bioconversion process and other processes, as well as gases and liquids recovered from the decomposition and/or extraction of non-fossilized and biodegradable organic materials (a) “Biomass energy systems” refer to energy systems which use biomass resources to produce heat, steam, mechanical power or electricity through either thermochemical, biochemical or physico-chemical processes, or through such other technologies which shall comply with prescribed environmental standards pursuant to this Act – As used in this Act, the following terms are herein defined: – This Act shall establish the framework for the accelerated development and advancement of renewable energy resources, and the development of a strategic program to increase its utilization. (d) Establish the necessary infrastructure and mechanism to carry out the mandates specified in this Act and other existing laws. (c) Encourage the development and utilization of renewable energy resources as tools to effectively prevent or reduce harmful emissions and thereby balance the goals of economic growth and development with the protection of health and the environment and (b) Increase the utilization of renewable energy by institutionalizing the development of national and local capabilities in the use of renewable energy systems, and promoting its efficient and cost-effective commercial application by providing fiscal and nonfiscal incentives (a) Accelerate the exploration and development of renewable energy resources such as, but not limited to, biomass, solar, wind, hydro, geothermal and ocean energy sources, including hybrid systems, to achieve energy self-reliance, through the adoption of sustainable energy development strategies to reduce the country’s dependence on fossil fuels and thereby minimize the country’s exposure to price fluctuations in the international markets, the effects of which spiral down to almost all sectors of the economy – It is hereby declared the policy of the State to: It shall hereinafter be referred to as the “Act”. – This Act shall be known as the “ Renewable Energy Act of 2008“. 4193 REPUBLIC OF THE PHILIPPINES CONGRESS OF THE PHILIPPINES Metro Manilaīegun and held in Metro Manila, on Monday, the twenty-eight day of July, two thousand eight.ĪN ACT PROMOTING THE DEVELOPMENT, UTILIZATION AND COMMERCIALIZATION OF RENEWABLE ENERGY RESOURCES AND FOR OTHER PURPOSESīe it enacted by the Senate and House of Representatives of the Philippines in Congress assembled: