Renewable energy in Taiwan has not always been a priority. However, in recent years, more companies and businesses are starting to push renewable resources to the forefront. This is having a huge effect on both the economy and international relations. By investing in these renewable resources rather than importing fossil fuels, Taiwan will become more self-reliant. Here are five facts about renewable energy in Taiwan.
5 Facts About Renewable Energy in Taiwan
- Oil still supplies 48 percent of energy to the country. Renewable energy in Taiwan is not as popular as in Brazil, where renewable energy supplies more than two-thirds of the country with power. However, Taiwan has begun to shift its focus towards more renewable resources. Diversifying fuel sources has advantages. By being able to harness solar and wind power, Taiwan can depend on its own nation for power rather than importing coal from other parts of the world. Currently, Taiwan imports 98 percent of all of its non-renewable energy. Adding locally sourced solar and wind power could help create jobs, adding to the domestic economy.
- Taiwan is investing $1 trillion into renewable energy. This investment, which will take place over the next several years, should make Taiwan one of Asia’s greenest countries. The money will go towards building solar panels, wind panels and green roofing. Additionally, the government will spend some of the funds on denuclearizing Taiwan. The Taiwanese government reports this will create at least 20,000 new jobs while increasing the overall amount of renewable energy powering the country by 20 percent.
- Renewable energy in Taiwan is a major focus over the next few years. With the new trillion-dollar investment, Taiwan will begin a new era prioritizing renewable resources. By the end of 2020, Taiwan will add an additional 2.2 GW of solar power nationally. By the end of 2025, Taiwan should continue growing and supply approximately 20 GW of solar power. The plan is to build the solar panels on rooftops and in agricultural areas. Around 1,000 hectares of farmland will redevelop into a solar farm to boost the overall renewable energy in the nation.
- Taiwan has a Green Bond System. Starting in 2013, the Green Bond System has been helping Taiwanese businesses raise funds for their environmentally-friendly products. Many different types of projects can use the Green Bond System. Some examples are projects related to climate change, renewable energy, environmental protection and carbon reduction. Denmark-headquartered wind energy company Ørsted used these green bonds to develop wind farms in Taiwan. This helps to create new jobs by funding businesses that may not receive financial assistance otherwise.
- Renewable energy solutions are helping to reduce poverty. By increasing access to renewable energy, Taiwan should continue increasing the overall national employment rate, which will lower the poverty rate. While the exact number of new employment opportunities is unknown, the Taiwanese government has assured the population that jobs will continue to grow with the renewable energy sector. There will also be opportunities for data engineers, machine learning scientists, data scientists and many business marketing jobs. A report from 2019 showed that there is a 12 percent increase in the technology sector for jobs relating to renewable energy. The data also points out that after just 12 months in a job, many employees receive a 15 percent salary increase.
Renewable energy is proving to be a very promising sector in Taiwan. It is providing new jobs to citizens and improving the overall way of life. By creating its own renewable energy, Taiwan is quickly becoming a more self-reliant and resilient country. With this continued focus, the nation will generate more opportunities for its citizens while helping to fight climate change.
– Asha Swann