The Taiwanese government has enacted the Statute for Renewable Energy (RE) Development to reduce CO2 emissions, improve energy diversification and promote green-energy industries.
The government seeks to generate 8% of electricity from renewable sources by 2025 and a install between 6,500 and 10,000 MW of RE capacity by 2030.
Targeted categories are solar, geothermal and ocean energies, wind power, biofuel, non-pump and storage hydropower and renewable hydrogen power.
The support framework included in the Statutes is a combination of a pricing mechanism, subsidies and deployment facilitation measures. The status provides for a feed-in tariff, to be established in further regulation, meant to ensure positive returns on investment to project developers. Fixed purchase price will be calculated by an independent committee and adjusted annually.
The Statute for Renewable Energy Develoment Bill also includes the obligation for the public grid utlity to guarantee grid connection and access to generators of renewable energy. RE generating facilities that reach a certain capacity will also have the opportunity to apply for industry usage procedures and dispositions. Moreover, existing procedures for the acquisition of required generation licenses (e.g. land-use) will be streamlined.
The regulation establishes the Renewable Energy RE Development Foundation funded by the Taiwan Power Company to support RE research and promotion activities.