To accelerate growth of the green energy sector, the Executive Yuan has designated green energy infrastructure as a part of the Forward-looking Infrastructure Development Program. Running from 2017 to 2021, the plan is funded by a special budget of NT$20.8 billion (US$674.1 million) divided into three terms, with NT$8 billion (US$259.3 million) for the first term (September 2017 to December 2018), and NT$11.4 billion (US$369.5 million) for the second (2019 to 2020). These funds are being used to reinforce the infrastructure and certification capabilities needed for the future of green energy. By creating a demand-driven domestic market for energy and pushing growth and innovation in related industries, the plan aims to transform Taiwan into a major center for green energy development in Asia. These efforts are expected to trigger private investment of NT$1.8 trillion (US$58.3 billion) by 2025.
Four main components
■ Smart energy conservation: This component will install low-voltage smart meters across Taiwan, beginning with 200,000 units in 2017, 1 million units by 2020, and 3 million units by 2024.
■ Solar energy: A two-year solar photovoltaic promotion project (July 2016 to 2018) already achieved the short-term goal of installing 1.52 gigawatts (GW) of solar capacity. Building on this success, the long-term goal is to install 20 GW of capacity (3 GW from rooftop systems and 17 GW ground-mounted panels) by 2025.
■ Wind power: To make Taiwan's wind farms internationally competitive, this component will construct the underwater foundations and heavy cargo piers needed for wind power development. The target for wind power is to install 6.7 GW of total capacity (1.2 GW from land-based systems and 5.5 GW from offshore systems) by 2025.
■ Shalun Smart Green Energy Science City: The purpose of this component is to create an innovative green-energy industry ecosystem, including a technical certification platform for commercializing green energy technology, and a regional demonstration and certification site for energy storage equipment and technology. The Shalun science city will also include a third-party inspection and testing center to encourage financial companies to invest in renewable energy technologies. Such a comprehensive green financing mechanism will enable Taiwan's renewable energy sector to carve out a niche in the global market.