Exploring the Potential and Challenges of a Developing Carbon Market in the Philippines

Paper ID: 
Carbon market
Published under CEST2023
Proceedings ISBN:
Proceedings ISSN: 2944-9820
(Corresponding) Corpus R., Bayani M., MELDANETTE S., Ado R.
The worldwide shift towards the use of renewable energy sources is very necessary if we are going to reduce our impact on the environment and become more sustainable over the long run. However, owing to the intermittent nature of renewable energy sources, concerns with grid management, and restrictions in the market, the incorporation of these sources into the energy systems that are already in place creates a number of challenges. The Internet of Things (IoT), big data analytics, artificial intelligence (AI), and blockchain are examples of technologies that were developed as part of the Industry 4.0 initiative and provide substantial promise for overcoming these difficulties. This article provides a detailed analysis of the role that Industry 4.0 technologies play in the integration of renewable energy sources. It does so by presenting successful case studies and investigating the constraints and problems involved with their implementation. In order to assist the wider adoption of Industry 4.0 technologies in the renewable energy industry, recommendations and potential future research paths are also offered in this article.
carbon market, Philippines, emerging