The Taiwan economy has become increasingly reliant on imports for its energy sources, placing an ever greater strain on their resources. In order to make the energy sector more sustainable and efficient, the Ministry of Economic Affairs (MOEA) Energy Bureau has been working toward improving energy security, expanding renewable energy sources and promoting energy conservation.
The Government of Taiwan has adopted stringent goals for reducing fossil fuel consumption and increasing the use of renewable energy sources. The MOEA Energy Bureau has set a goal to achieve 15% of Taiwan’s total energy production with renewable energy sources by 2025. To achieve this goal, the Energy Bureau plans to develop renewable energy projects such as wind, hydropower, and solar and geothermal. The Energy Bureau is also aiming to improve the efficiency of existing power plants, build new clean-burning plants, and increase the use of nuclear power.
The Energy Bureau has also been taking steps to promote energy conservation and efficiency. In order to meet this challenge, the Bureau is increasing awareness of efficient energy use and has launched a public education program on energy conservation and efficiency. The Bureau has also implemented a number of incentives for energy efficiency such as tax deductions for businesses investing in energy-efficiency measures and subsidies for purchasing energy-efficient equipment.
In addition, the Bureau has established several policies to stimulate the growth of renewable energy in Taiwan. For example, the Bureau has implemented a feed-in-tariff system in which renewable energy producers are provided a premium payment for the energy they generate that is then fed into the grid. The Bureau has also introduced mandatory standards and incentives for the purchase of energy-efficient products such as appliances.
The Ministry of Economic Affairs Energy Bureau is also working to attract investment and technology related to renewable energy. The Bureau has created a framework of renewable energy project financing, tax credits, and research and development grants. In addition, the Energy Bureau is helping to build partnerships with international companies, research institutions, and government entities to promote renewable energy investments.
To date, the efforts of the Ministry of Economic Affairs Energy Bureau in the renewable energy sector have been successful. The share of renewable energy in the electricity generation mix has more than doubled since 2012 and Taiwan is currently ranked as one of the top ten countries for renewable energy investments. Looking ahead, the Energy Bureau plans to continue its efforts to promote renewable energy and energy conservation in order to make Taiwan more sustainable and resilient to future energy shocks.
