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Renewable Energy Act of 2008 Quiz
40 Questions
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Renewable Energy Act of 2008 Quiz

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Questions and Answers

What does 'Hybrid Systems' refer to?

  • A combination of different energy technologies. (correct)
  • A system that is solely dependent on fossil fuels.
  • Electricity produced by geothermal sources.
  • A power system using only solar energy.

    • Hydroelectric Power Resources are only found in rivers.

    False

    What is the maximum capacity for a Micro-scale Project?

    one hundred kilowatts (100 kW)

    The high voltage backbone system of interconnected transmission lines is known as the _____ .

    <p>Grid</p> Signup and view all the answers

    Which of the following statements is true regarding 'Green Energy Option'?

    <p>It allows end-users to choose renewable energy.</p> Signup and view all the answers

    Missionary Electrification aims to provide electricity in viable areas only.

    <p>False</p> Signup and view all the answers

    Match the following terms with their definitions:

    <p>Local government share = Amount due to local governments from renewable resource development National government share = Amount due to national government from renewable resource exploitation Hydroelectric Power Development = Construction and installation of hydroelectric power facilities Grid = System of interconnected transmission lines and substations</p> Signup and view all the answers

    The construction of a hydroelectric power-generating plant is referred to as _____ .

    <p>Hydroelectric Power Development</p> Signup and view all the answers

    What is the primary function of the Small Power Utilities Group (SPUG)?

    <p>To pursue missionary electrification</p> Signup and view all the answers

    All stakeholders in the electric power industry must contribute to the growth of the renewable energy industry.

    <p>True</p> Signup and view all the answers

    What does the acronym ERC stand for in relation to electricity suppliers?

    <p>Energy Regulatory Commission</p> Signup and view all the answers

    The ______ shall be the lead agency mandated to implement the provisions of this Act.

    <p>DOE</p> Signup and view all the answers

    Which of the following energy sources is NOT included in the Feed-In Tariff System?

    <p>Natural Gas</p> Signup and view all the answers

    What is the primary aim of the Renewable Energy Act of 2008?

    <p>To promote the development, utilization, and commercialization of renewable energy resources</p> Signup and view all the answers

    Match the following renewable energy concepts with their definitions:

    <p>Solar Energy = Energy derived from solar radiation Wind Energy = Energy that can be derived from wind Wholesale Electricity Spot Market = Market for wholesale electricity Feed-In Tariff System = Mandated pricing for renewable energy production</p> Signup and view all the answers

    The Transmission of Electricity refers to the production of electric power.

    <p>False</p> Signup and view all the answers

    The Act encourages the use of renewable energy resources primarily to enhance economic growth without considerations for the environment.

    <p>False</p> Signup and view all the answers

    Name one renewable energy source mentioned in the Act.

    <p>Solar energy</p> Signup and view all the answers

    What is the purpose of the Renewable Portfolio Standard (RPS)?

    <p>To set minimum generation percentages from renewable energy resources</p> Signup and view all the answers

    The Act aims to reduce the country's dependence on __________ fuels.

    <p>fossil</p> Signup and view all the answers

    Match the following terms with their definitions:

    <p>Biomass energy systems = Energy systems that produce heat, steam, mechanical power or electricity from biomass resources Hybrid systems = Systems that combine two or more types of renewable energy Sustainable energy development = Implementing energy strategies that are environmentally friendly and economically viable Fiscal incentives = Financial benefits provided to promote renewable energy usage</p> Signup and view all the answers

    Which of the following is NOT a declared policy of the Renewable Energy Act?

    <p>Continue the exclusive use of fossil fuels</p> Signup and view all the answers

    The Renewable Energy Act of 2008 seeks to institutionalize development capabilities in renewable energy systems.

    <p>True</p> Signup and view all the answers

    What is the significance of establishing infrastructure as per the Act?

    <p>To carry out the mandates specified in the Act and support renewable energy development.</p> Signup and view all the answers

    What is the corporate tax rate for RE Developers after seven years of Income Tax Holiday (ITH)?

    <p>10%</p> Signup and view all the answers

    The importation of renewable energy machinery is subject to tariff duties during the first ten years after certification.

    <p>False</p> Signup and view all the answers

    What is the maximum allowable realty tax rate on equipment and machinery for a registered RE Developer?

    <p>1.5%</p> Signup and view all the answers

    All proceeds from the sale of _____ credits shall be exempt from any and all taxes.

    <p>carbon emission</p> Signup and view all the answers

    Match each incentive or tax clause with its correct description:

    <p>Duty-free Importation = No tariff duties for 10 years NOLCO = Deduction from gross income for losses Accelerated Depreciation = Tax based on depreciated assets Zero Percent VAT = Apply to fuel or power from renewable sources</p> Signup and view all the answers

    What is the cash incentive per kilowatt-hour for RE developers serving missionary areas?

    <p>50% of universal charge</p> Signup and view all the answers

    A renewable energy project can apply for Accelerated Depreciation only if it receives the ITH before full operation.

    <p>False</p> Signup and view all the answers

    What is the duration of the net operating loss carry-over (NOLCO) benefit for RE Developers?

    <p>three years carry over, seven years deduction period</p> Signup and view all the answers

    What percentage of the value-added tax and customs duties is credited to RE operating contract holders when purchasing from domestic manufacturers?

    <p>100%</p> Signup and view all the answers

    The Renewable Energy Trust Fund is created to hinder the development of renewable energy.

    <p>False</p> Signup and view all the answers

    Name one of the government financial institutions that provide preferential financial packages for RE projects.

    <p>Development Bank of the Philippines</p> Signup and view all the answers

    The _____ shall encourage the adoption of waste-to-energy technologies.

    <p>DOE</p> Signup and view all the answers

    Match the following sections with their corresponding provisions:

    <p>Section 27 = Creation of the National Renewable Energy Board Section 28 = Establishment of Renewable Energy Trust Fund Section 29 = Financial Assistance Program Section 31 = Incentives for RE Host Communities/LGUs</p> Signup and view all the answers

    What is the minimum percentage share allocated for subsidizing electricity consumption in RE host communities?

    <p>80%</p> Signup and view all the answers

    The implementing rules and regulations (IRR) are to be promulgated within one month from the effectivity of the Act.

    <p>False</p> Signup and view all the answers

    What oversight powers are exercised over the implementation of this Act?

    <p>Joint Congressional Power Commission</p> Signup and view all the answers

    Study Notes

    Title and Declaration of Policies

    • The law is called "Renewable Energy Act of 2008"
    • The act aims to accelerate the exploration and development of renewable energy resources.
    • The act aims to increase the utilization of renewable energy by providing fiscal and non-fiscal incentives.
    • The act aims to encourage development of renewable energy resources as a tool to prevent harmful emissions.

    Scope

    • The act establishes the framework for accelerated development of renewable energy resources.
    • The act contains a strategic program for increased utilization of renewable energy.

    Definitions

    • Renewable energy systems can use biomass resources to produce heat, steam, mechanical power, or electricity.
    • The "Green Energy Option" lets end-users choose renewable energy.
    • The "Grid" is the high voltage backbone system of interconnected transmission lines, substations, and related facilities in Luzon, Visayas, and Mindanao.
    • "Hybrid Systems" combine conventional and renewable fuel sources, like solar/wind or biomass/fossil fuel systems.
    • "Hydroelectric Power Systems" or "Hydropower Systems" produce electricity using the kinetic energy of falling or running water.
    • "Hydroelectric Power Development" or "Hydropower Development" involves the construction and installation of a hydroelectric power-generating plant.
    • "Hydroelectric Power Resources" or "Hydropower Resources" are water resources that can be used for hydropower projects, including rivers, lakes, and waterfalls.
    • "Local government share" is due to local government units from the exploitation, development, and utilization of renewable energy resources.
    • "Micro-scale Project" is an RE project with a capacity of no more than 100 kW.
    • "Missionary Electrification" provides basic electricity service in unviable areas.
    • "National government share" is due to the national government from the exploitation, development, and utilization of naturally-occurring renewable energy resources.
    • "Solar Energy" is energy derived from solar radiation, convertible into thermal or electrical energy.
    • "Solar Energy Systems" convert solar energy into thermal or electrical energy.
    • "Small Power Utilities Group (SPUG)" is the functional unit of the NPC mandated to carry out missionary electrification.
    • "Supplier" is any person or entity authorized by the ERC to sell, broker, market, or aggregate electricity to the end-users.
    • "Transmission of Electricity" refers to the conveyance of electric power through transmission lines.
    • "Wind Energy" is energy derived from wind, convertible into useful electrical or mechanical energy.
    • "Wind Energy Systems" are machines or other related equipment that convert wind energy into useful electrical or mechanical energy.
    • "Wholesale Electricity Spot Market (WESM)" is the wholesale electricity spot market created pursuant to Republic Act No. 9136.

    Organization

    • The Department of Energy (DOE) is the lead agency for implementing the provisions of this Act.

    On-Grid Renewable Energy Development

    • The National Renewable Energy Board (NREB) sets the minimum percentage of generation from eligible renewable energy resources.
    • The Feed-In Tariff System accelerates the development of emerging renewable energy resources through specific financial incentives.
    • Duty-free importation of RE machinery, equipment, and materials is available during a specified timeframe.

    Incentives

    • Special Realty Tax Rates on Equipment and Machinery are set at 1.5% of the original cost less accumulated depreciation.
    • The Net Operating Loss Carry-Over (NOLCO) of the RE Developer during the first three years of operation can be carried over as a deduction from gross income for the next seven consecutive taxable years.
    • Corporate Tax Rate is set at 10% on net taxable income after seven years of ITH.
    • Accelerated Depreciation is available for RE projects that fail to receive an ITH before full operation.
    • Zero Percent Value-Added Tax Rate applies to the sale of fuel or power generated from renewable sources of energy.
    • Cash Incentive of Renewable Energy Developers for Missionary Electrification entitles RE developers to a cash generation-based incentive equivalent to 50% of the universal charge.
    • Tax Exemption of Carbon Credits applies to all proceeds from the sale of carbon emission credits.
    • Tax Credit on Domestic Capital Equipment and Services provides a tax credit equivalent to 100% of the value-added tax and customs duties that would have been paid on imported RE equipment if it was purchased domestically.

    General Provisions

    • The National Renewable Energy Board (NREB) is created to enhance the development and utilization of renewable energy.
    • The Renewable Energy Trust Fund (RETF) is established to enhance the development and utilization of renewable energy
    • Government financial institutions shall provide preferential financial packages for RE projects.
    • The DOE encourages the adoption of waste-to-energy facilities where practicable.
    • LGUs receive a share of royalties and government share from RE projects and activities.
    • The Renewable Energy Management Bureau is created.

    Final Provisions

    • The DOE, in consultation with relevant parties, must promulgate the Implementing Rules and Regulations (IRR) of the law within six months of its effectivity.
    • The Joint Congressional Power Commission exercises oversight powers over the implementation of the Act.

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    Related Documents

    Republic Act No. 9513 (2008) PDF

    Description

    Test your knowledge on the Renewable Energy Act of 2008, its objectives, definitions, and frameworks established for promoting renewable energy resources. This quiz covers important aspects such as fiscal incentives and the Green Energy Option. Explore the efforts aimed at reducing harmful emissions through renewable energy development.

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