The Department of Energy (DoE) has rolled out guidelines for hydrogen investment incentives in the Philippines. The move comes as part of the government’s efforts to promote sustainable energy solutions and reduce dependence on traditional fossil fuels.
The DoE announced the introduction of incentives for hydrogen investments through Department Circular No. 2024-01-0001, titled “Providing a National Policy and General Framework, Roadmap, and Guidelines for Hydrogen in the Energy Sector.” According to the DoE’s social media announcement, stakeholders involved in hydrogen production, distribution, research and development, infrastructure establishment, and hydrogen fueling stations for transportation sectors will now enjoy various perks and incentives provided by the government.
Stakeholders engaged in projects aimed at producing, importing, and exporting green hydrogen and its derivatives for power generation are eligible for benefits under the Renewable Energy Act of 2008. These incentives include:
For stakeholders involved in applying hydrogen to the transport sector using fuel cells, incentives are available under the Electric Vehicle Industry Development Act. These include benefits provided by the Corporate Recovery and Tax Incentives for Enterprises (Create) Act for manufacturing and assembly of hydrogen fuel stations, importation of capital and equipment, and exemption from duties on completely built hydrogen fuel stations for eight years.
Projects involving hydrogen and its derivatives from nuclear energy will undergo an evaluation process for incentives under the Energy Efficiency and Conservation Act.
