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Article: President signs law promoting renewable energy.(Main News)
- Article from:
- Manila Bulletin
- Article date:
- December 17, 2008
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With the aim of reaching 60 percent energy self-sufficiency by 2010, President Arroyo yesterday signed into law the Renewable Energy Act of 2008 that seeks to hasten the development and use of "green" energy sources in the country.
Republic Act 9513, officially known as An Act Promoting the Development, Utilization and Commercialization of Renewable Energy Resources, provides fiscal and non-fiscal incentives such as income tax holidays and tax exemptions to encourage the use and production of energy from solar, wind, geothermal, and other renewable sources.
At the signing ceremony in Malacanang before several lawmakers and environmentalists, the ...