Ministry of Economic Affairs, R.O.C. announced to increase this year’s PV system installation from 572MW to 607MW in the “Amendment to The Renewable Energy Development Target” drafted by Bureau of Energy. Also, the target PV system installation in 2015 is raised to 847MW. It will require funding of NT$21 billion and NT$24 billion for this year and next year if it cost NT$100 million to install 1MW PV system.

 

The Bureau further increased the cumulative amount of PV installation to 6,200 MW by 2030. If the target is successfully reached, the total investment within renewable energy may exceed NT$1 trillion. It is reported that about 90% of solar system installed in Taiwan use local products so this upgrade may be helpful to Taiwanese solar manufacturers.

 

Regarding wind energy, the Bureau of Energy hopes to reach installation amount of 814MW for onshore wind power and 15MW for offshore wind power in 2014 and 2015, respectively. Furthermore, they are planning to install 1,200 MW onshore wind power generator and 3,000 MW offshore wind power generator by 2030.

 

The Bureau of Energy decides to encourage private investment through Feed-in Tariff (FiT) so the budget for renewable energy development won’t rise. In 2030, the Bureau predicts that renewable energy will represent 25% and 11% of total grid installation and total power generation, respectively. 

 

According to the Renewable Energy Development Bill, Ministry of Economic Affair should set up ratios for all kinds of energy and target for renewable energy development every other two year.