Taiwan’s government reports that it has passed a bill on renewable energy that is expected to attract Taiwan $30 billion (US $937 million) worth of investment. Parliament approved the measure on 13 June 2009, which is aimed at adding between 6,500 and 10,000MW of installed energy from renewable to Taiwan’s current 2,287MW (5.8%) over the next 20 years.
Before this bill passed, providers were obligated to sell electricity to state-run Taiwan Power at Taiwan $2 per kilowatt-hour, compared with the Taiwan $8 they recommended. The bill is part of the government’s plan to reduce carbon dioxide emissions to 2000 levels by 2025.The government now plans to offer incentives and loosen regulations on renewable energy providers, in addition to creating a pricing mechanism for various sources of solar or wind energy.
United Daily news estimates that the bill will induce over Taiwan $30 billion in investment in the first year and create more than 10,000 jobs. Needless to say, industry watchers welcomed this. They estimate that the clean-energy industry will generate some Taiwan $100 billion in revenue within one to two years.