Taiwan Renewable Energy Policy Handbook, 2024 Update
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Taiwan Renewable Energy Policy Overview
The Energy Development Group was established as a subordinate body to the International Economic Cooperation and Development Council in 1968, to take care of energy affairs in Taiwan. However, the Bureau of Energy (BoE) was formally established on 1st July 2004 as a result of the Act of the Organization of the Bureau of Energy proclaimed by the President in the same year. BoE includes formulating energy policies and related regulations, evaluating and planning energy demand and supply, and conducting price reviews for natural gas and power. BoE also issues permits for the production, storage, transformation, distribution, and utilization of energy for gas and power markets.
“Taiwan Renewable Energy Policy Handbook 2024” is among the latest country-specific policy reports from GlobalData, the industry analysis specialist. The report offers comprehensive information on major policies governing the renewable energy market in the country and provides information on renewable policies/developments at a regional/municipal level. The report discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of the overall growth potential of the renewable energy industry. The report also provides major technology-specific policies and incentives provided in the country. The report is built using data and information sourced from industry associations, government websites, and statutory bodies. The information is also sourced through other secondary research sources such as industry and trade magazines.
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Taiwan Renewable Energy Targets
The Green Energy Technology Industry Innovation and Promotion Action Plan implemented by the Taiwan government has set a target to achieve 20% of the country’s electricity generation from renewables by 2025. Taiwanese Nationally Determined Contribution (NDC) has set targets of 50% carbon emission reduction from the expected business as usual (BAU) level by 2030 which is equivalent to reducing carbon emissions by 20%. Furthermore, the Taiwanese government has targeted to achieve net zero emissions by 2050.
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Taiwan Renewable Energy Strategies
Renewable Energy Development Act (REDA): In April 2019, Taiwan’s Legislative Yuan passed amendments to the Renewable Energy Development Act. The primary objective of this act includes energy diversification, improving energy structure, reducing emission of greenhouse gases, improving environmental quality, assisting relevant industries, and enhancing sustainable development of the country.
New Green Energy Revolution: To meet the set renewable energy target by 2025, the country is going through a green energy revolution. The government is expecting around $59 billion of foreign investment for the development of renewable energy in the country by 2025. The offshore wind market is expected to add around 5.5 GW of capacity by 2025. The country is also actively keen on expanding solar installations. To boost solar power generation, the government has applied an additional 6% subsidy for high-efficiency solar components and a 3% subsidy for consumers who install solar PV systems on rooftops. The government is also looking to decommission nuclear power plants and increase the renewable energy share in the power mix.
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Scope
The report provides:
- Policy measures and incentives are used by Taiwan to promote renewable energy.
- Promotional measures in Taiwan both for the overall renewable energy industry and for specific renewable energy technologies that have potential in the country.
Reasons to Buy
The report will enhance your decision-making capability in a more rapid and time-sensitive manner. It will allow you to –
- Develop business strategies with the help of specific insights about policy decisions being taken for different renewable energy sources.
- Identify opportunities and challenges in exploiting various renewable technologies.
- Compare the level of support provided to different renewable energy technologies in different countries in the region.
- Be ahead of the competition by keeping yourself abreast of all the latest policy changes.
Table of Contents
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Frequently asked questions
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Which key organization creates policies for the renewable power sector in Taiwan?
The Bureau of Energy (BoE) issues permits for the production, storage, transformation, distribution, and utilization of energy for gas and power markets.
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What are the renewable energy targets in Taiwan?
The Taiwanese government has targeted to achieve net zero emissions by 2050.
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Which are the key policy reforms offered by the Taiwanese government?
Taiwanese government introduced various supporting schemes including feed-in tariffs (FiTs), the Shalun Green Energy Science City, and the green energy roofs project.
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