Regulators have approved the payment and supply agreements that will govern the feed-in-tariff (FIT) system for renewable energy projects.

The DOE earlier hiked the installation cap for solar plants to 500 megawatts (MW) from the earlier limit of 50 MW. The higher threshold will allow more developers of solar power to avail of feed-in-tariff (FIT) incentive.

The Department of Energy (DOE) is mulling an increase in the number of solar plant operators that may avail of tariff incentives to address tight electricity supply especially during the summer months. . . Energy Secretary Carlos Jericho L. Petilla today told reporters that the agency may hike the 50-megawatt (MW) installation target for solar plants by another 450 MW to draw additional investments in that technology.