Taiwan Invests Huge In Clean Energy

The government of Taiwan is looking to spend big dollars in the next five years to help hit target goals of energy conservation and carbon reduction for the policy of greenhouse gas reduction. It believes renewable energy will be a big factor in this and plans to spend NT$25 billion, or over $848 million US, in hopes of drawing in a further NT$200 billion, or over $6.7 billion US, from private sector investments.

Taiwan’s version of the Environmental Protection Agency (EPA) is leading the charge on this. Executive Secretary Huei-juan Hsiao of the EPA Office of Greenhouse Gases Reduction Management said in an interview, according to his office, that the government ratified in April 2009 the “Dawning Green Energy Industry Program,” which focuses on industries involved in photovoltaics, LED lighting, wind power, biofuel, hydrogen energy and fuel cell, energy information and electric-powered vehicles.

solar farm

image via PG&E

In a further showing of financial commitment to the pursuit of green energy related industries, the government plans to sink $20 billion more dollars of its currency into technological research and development to spur more than NT$200 billion of private investments. All of this cash being spent is geared towards “an aim to increase energy efficiency by 2% annually over the next eight years and lower energy intensity by more than 20% in 2015 as compared with 2005 while reducing carbon emissions to 2005 levels by 2020 and to 2000 levels by 2025.”

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