As of the latest data, Taiwan’s cumulative installed capacity for solar photovoltaic (PV) systems stands at 9,723.8 MW.⁶

Taiwan’s solar energy market is anticipated to experience a compound annual growth rate (CAGR) of over 12% from 2022 through 2035. This substantial growth reflects Taiwan’s ongoing commitment to expanding its renewable energy infrastructure and reducing its carbon footprint.⁶

The Following are the average cost of electricity generation from different sources:⁷⁸

• Thermal: USD 0.058 per KWh
• Nuclear: USD 0.019 per KWh
• Solar: USD 0.24 per KWh
• Natural gas: USD 0.11 per KWh

The electricity sector in Taiwan is dominated by coal and gas power generations. Despite the country’s large potential for new renewable energy technologies, this potential is still very underutilized. Following are the electricity generation percentages from different sources:⁹

• Coal: 42.8%
• Gas:39.5%
• Nuclear: 8.3%
• Solar: 3.7 %
• Wind: 1.2%
• Hydal: 2%
• Biogas: 0.7%
• Fossil: 1.5%

The average daily availability of electricity in Taiwan is high but there is no exact information is available on internet database.¹⁰

Taiwan is actively pursuing the “Green Roof All-Participation” initiative for small buildings, including residential properties, with the goal of fostering a citizen power plant concept through increased rooftop solar installations. Recent figures indicate that the capacity of rooftop photovoltaic (PV) systems has surged from 1.14 GW in 2016 to 7.33 GW in 2023. Conversely, the capacity of ground-mounted PV systems has grown from 0.078 GW in 2016 to 4.33 GW in 2023.¹¹

As of 2024, Taiwan has approximately 45 operational Taiwan solar power stations. This includes both large-scale solar farms and smaller installations contributing to the national grid. The country has plans to expand this number significantly in the coming years as part of its renewable energy initiatives.¹²

• Market Size: The demand for off-grid solar panels in Taiwan is increasing significantly. This growth is driven by various factors, including the high cost of grid expansion, government support, and the need for energy access in remote areas. Taiwan’s government has identified solar power as a critical component of its future energy strategy, aiming to install significant capacities of both rooftop and ground-mounted solar systems. This includes ambitious targets like 3GW for rooftop solar and 17GW for ground-mounted projects by 2025.¹³
• Growth Projection: The off-grid solar market in Taiwan is experiencing significant growth, driven by increasing demand for sustainable and independent energy solutions. Specifically, in the Asia-Pacific region, which includes Taiwan, the market for off-grid solar PV panels is expected to see substantial growth. This growth is fueled by the region’s commitment to renewable energy projects, investments in rural electrification, and government incentives aimed at enhancing solar energy usage.¹⁴

• Current: In 2023, Taiwan’s electricity capacity increased by 2 GW, reaching a total of 64 GW. This growth was primarily driven by substantial additions in solar power (2.7 GW) and wind power (1.1 GW). Solar power generation experienced a significant year-on-year growth of 21%, rising by 2.2 TWh to reach a total of 12.9 TWh in 2023. This increase in solar power generation accounted for 48% of the total renewable energy generation in the country​¹⁵
• Projected: In the Solar Energy market, electricity generation is forecasted to reach 5.71 billion kWh in 2024. The sector is anticipated to grow at an annual rate of 1.30%, reflecting a compound annual growth rate (CAGR) from 2024 to 2029.¹⁶

The average monthly salaries for solar energy professionals include:

• Solar Electrician: $ 2300¹⁷
• Solar Sales Representative: $2500¹⁸
• Solar Sales Manager: $4000¹⁹
• Solar Design Engineer: $7500²⁰
• Labor Cost: $820²¹

The population of Taiwan is around 23,952,307.²²

The average overhead costs for solar panel production in Colombia involve several components:

Raw Material Costs: Raw materials, such as silicon, aluminum, and copper, are major expenses. These costs fluctuate based on global supply and demand, geopolitical events, and economic conditions.

Labor Costs: Labor costs in Taiwan for the solar industry can be significant. The average labor cost for skilled technicians and factory workers is relatively lower than in developed countries but varies widely depending on the skill level and region.

Minimum Wage:²¹ Taiwan has a national minimum wage that varies depending on the sector

• Public Sector: Around $830 USD per month
• Private Sector (non-agricultural): $800 per month

Average Salary: The average salary in the solar market in Taiwan can vary widely based on job role, experience, and region. Generally, salaries for professionals in the solar sector, such as engineers, project managers, and technicians, range around $2000 to $8000 USD.

Utilities and Energy Costs: Colombia’s energy costs for industrial use are relatively high.²²²³

• Electricity Prices: As of the latest data , the per KWh cost of electricity is 0.12 USD in Taiwan.
• Water Charges:²⁴ The rates imposed by TWC (Taiwan Water Corp. ) are approximately $0.23, $0.29, $0.36, or $0.38 per cubic meter of water, depending on the volume of water used and if the bill is issued monthly.

Facility Maintenance: Facility maintenance costs in Taiwan, including rent, equipment maintenance, and repairs, can vary widely based on the size of the manufacturing facility. Here is a rough estimate based on publicly available data:

• Smaller Factories (500-1000 sqm): Estimated Cost: $1,600 – $3,200 USD per month
• Medium Factories (1000-2000 sqm): Estimated Cost: $3,200 – $5,400 USD per month
• Larger Factories (2000+ sqm): Estimated Cost: $5,400 – $6,000 USD per month

These estimates consider the following expenses:

Rent: Cost of leasing the space for manufacturing operations.

Equipment Maintenance: Regular upkeep and servicing of machinery and equipment to ensure optimal performance and avoid downtime.

Repairs: Costs associated with fixing or replacing faulty or broken equipment and infrastructure.

Administrative Expenses:¹⁷¹⁹²⁰

These include salaries for administrative staff, office supplies, and other general expenses, adding a significant portion to the overhead. The average monthly salaries for solar energy professionals include:

• Solar Electrician: $2300
• Solar Sales Manager: $4000
• Solar Design Engineer: $7500

Quality Control: Ensuring the solar panels meet performance and safety standards involves expenses for testing and inspections.

In Taiwan, these costs can vary based on several factors, including the size and type of the solar installation, local labor costs, and the specific technologies used. Generally, Taiwan has been supportive of solar energy through subsidies and incentives, which can impact the overall cost structure.

Taiwan’s energy infrastructure faces a challenging landscape shaped by its dependence on fossil fuels and a politically driven shift towards renewable energy. The current energy mix is heavily reliant on coal, natural gas, and oil, which together account for the majority of electricity generation. In 2022, coal generated 42.5% of Taiwan’s power, natural gas 38.1%, and renewables, including solar and wind, only 8.1%. Nuclear power, once a significant contributor, has been steadily phased out under the Democratic Progressive Party’s (DPP) “nuclear-free homeland” policy.²⁵³²³³

To address these challenges, Taiwan has implemented ambitious plans to increase the share of renewables and improve grid resilience. The government aims for renewables to make up 20% of the energy mix by 2025, although this target has been recently revised down to 15%. Significant investments are being made in offshore wind farms and solar projects to meet this goal. Additionally, Taiwan Power Company (Taipower) is investing in grid reinforcement and protection projects to mitigate the risks of centralized power generation and transmission failures.

However, Taiwan’s energy transition is not without obstacles. The island faces rising electricity prices and frequent blackouts due to its aging infrastructure and the inherent intermittency of renewable energy sources. The ongoing phasing out of nuclear power, despite its potential to provide stable and low-carbon energy, further complicates the energy security landscape. With natural gas prices fluctuating due to global events, such as the COVID-19 pandemic and geopolitical tensions, Taiwan’s reliance on imported fossil fuels remains a significant vulnerability.

In summary, while Taiwan is making strides towards a greener energy future, the path is fraught with technical, economic, and political challenges. A more pragmatic and diversified approach, possibly reconsidering the role of nuclear energy, might be necessary to secure Taiwan’s energy future and achieve its ambitious net-zero targets.

The Taiwanese government is committed to significantly increasing the share of renewable energy in its electricity generation mix, aiming to raise it from the current 5.56% to 20% by 2025. A primary focus of this initiative is the expansion of solar energy, with a target to increase the installed capacity of photovoltaic (PV) plants to 20 GW by 2025.^26272834

• Renewable Energy Development Act: The Renewable Energy Development Act is a cornerstone of Taiwan’s efforts to promote renewable energy. The Act encourages the use of renewable energy, supports energy diversification, enhances environmental quality, assists relevant industries, and promotes sustainable development. It mandates the establishment of a renewable energy development fund by the central competent authority to finance these initiatives.
• Taiwan Photovoltaic Industry Association (TPVIA): The Taiwan Photovoltaic Industry Association (TPVIA), founded by the PV industry and the Industrial Technology Research Institute (ITRI), is a non-profit organization that includes members from all sectors of the PV production chain. The TPVIA serves as a platform for communication and collaboration among industry, government, academia, and research bodies. It collects industry opinions, facilitates effective communication with the government, and promotes cooperation mechanisms to advance the PV industry in Taiwan.
• Energy Taiwan Net Zero Taiwan: The Energy Taiwan Net Zero Taiwan initiative is focused on reducing greenhouse gas emissions and achieving net-zero carbon emissions by 2050. The key elements and goals of this initiative include:

Goals and Targets:

• Net-Zero Emissions by 2050: The goal is to reach net-zero greenhouse gas emissions by 2050.
• Renewable Energy Integration: A key component of the energy transition involves boosting the proportion of renewable energy sources, including solar and wind power.

Strategies and Actions:

• Expanding Renewable Energy: Taiwan plans to invest heavily in solar and wind energy projects, setting ambitious targets for renewable energy capacity.
• Energy Efficiency: Improving energy efficiency in various sectors, including industry, transportation, and buildings, is a critical component.
• Carbon Pricing: Implementing carbon pricing mechanisms to incentivize reductions in greenhouse gas emissions.
• Research and Development: Investing in new technologies and innovative solutions to support the transition to a low-carbon economy.

Policy Framework:

• Renewable Energy Act: This legislation supports the development and integration of renewable energy sources.
• 2030 Renewable Energy Development Goal: Targets for renewable energy capacity by 2030, including significant solar and offshore wind projects.
• Climate Action Plan: A detailed plan outlining the steps and measures needed to achieve net-zero emissions, including specific timelines and milestones.

These government regulations and initiatives reflect Taiwan’s commitment to transitioning to a sustainable energy future and addressing the global challenge of climate change.

The Taiwanese government has implemented several initiatives to boost solar panel production, reflecting its commitment to expanding renewable energy and achieving sustainability goals. The Taiwanese government aims to boost the share of renewable energy in electricity generation from the current 5.56% to 20% by 2025. Key initiatives include:²⁹

• 20 GW Solar Capacity Target by 2025: Taiwan seeks to bolster its solar energy sector and establish a self-sufficient domestic supply chain. The target is to achieve a solar generation capacity of 20 gigawatts (GW) by 2025, with a total investment of NT$1.2 trillion (US$37.2 billion) and an annual industry output value of NT$340 billion (US$10.5 billion).
• Advanced metering infrastructure (AMI) demonstration project:The installation of 3 million advanced meters by 2024 will drive growth in AMI-related industries and push cumulative production value to NT$41.3 billion (US$1.3 billion) from 2017 through 2024.
• Feed-in Tariffs (FiTs): The Taiwanese government has established feed-in tariffs for solar energy, which guarantee a fixed purchase price for the electricity generated by solar panels. These tariffs are designed to provide long-term financial stability for solar energy projects, making investments in solar panel production and installation more attractive to both domestic and international investors
• Construction of the Shalun Smart Green Energy Science City:Tainan is set to establish a new industrial innovation cluster in the Shalun area, designed to integrate industry, academia, and researchers. This initiative will transform the area into a national hub for the research, development, and demonstration of green energy technologies. It will also serve as a global showcase for Taiwan’s technological advancements and aim to create a world-class smart eco-city.
• Subsidies and Incentives: The Taiwanese government offers various subsidies and incentives to promote solar panel production and installation. These include grants for research and development, tax incentives for solar equipment manufacturers, and subsidies for residential and commercial solar installations. These financial supports are aimed at reducing the costs associated with solar energy projects and accelerating the adoption of solar technologies​.

Following are the notable solar projects in Taiwan:³⁰

• Tainan Salt Fields Solar PV Park : Tainan Salt Fields Solar PV Park is a ground-mounted solar project which is spread over an area of 214 hectares. The project generates 200,000MWh electricity and supplies enough clean energy to power 57,000 households, offsetting 114,000t of carbon dioxide emissions (CO2) a year.
• Changhua Coastal Industrial Solar Park: A 100 MW solar PV power project located in Changhua County, Taiwan.
• Yizhu Solar PV Park: A 70.2 MW solar PV power project situated in Chiayi County, Taiwan.
• Sheng Yang Energy Taiwan Solar PV Park: A 54.4 MW solar PV power project located in Taiwan.
• Cole Solar PV Park: A 42 MW solar PV power project based in Tainan, Taiwan.
• Yunlinkou Lake Yongzhou Solar PV Park: A 39.991 MW solar PV power project in Yunlin County, Taiwan.
• Budai Solar PV Park: A 35.513 MW solar PV power project located in Chiayi County, Taiwan.

Projected :

• One of the major projects is the development of a 120+ MW solar project in Tainan City. This project, managed by Diode Ventures in partnership with Enfinite Capital, will utilize innovative solar panel arrangements over existing aquaculture farms, minimizing the impact on local fish farming activities​
• Another significant initiative is a large-scale project by GreenRock Energy and Solarvest, aiming to develop 1 GW of renewable energy projects across Taiwan and Malaysia over the next five years. This includes both agrivoltaic and aquavoltaic projects, with a targeted capacity of 500 MW in Taiwan​.
• Additionally, a Toshiba-led consortium is constructing a 120 MW solar fishery project, also located in Tainan. This project is expected to be completed by the end of 2024 and will feature solar panels installed on the rooftops of fishery infrastructure. The consortium plans to expand this initiative with an additional 360 MW project, bringing the total capacity to 480 MW​.

³¹

• United Renewable Energy Co. Ltd United Renewable Energy Co. Ltd (URE) is a prominent player in the Taiwanese solar technology sector, boasting a market cap of $762.1 million. Formed from the merger of three leading solar companies in Taiwan—Neo Solar Power, Gintech Energy, and Solartech Energy—URE aims to integrate resources and enhance competitiveness in the global market. The company specializes in manufacturing high-efficiency solar cells, modules, and systems, focusing on innovative solutions and sustainable energy practices to meet growing energy demands.
• TSEC Corp TSEC Corp, with a market cap of $513.4 million, is a key player in Taiwan’s solar technology industry. The company is known for its high-quality solar products, including monocrystalline and polycrystalline solar cells and modules. TSEC emphasizes research and development, striving to improve solar cell efficiency and reduce production costs. Its commitment to quality and innovation has positioned TSEC as a reliable provider of solar solutions both domestically and internationally.
• Giga Solar Materials Corp Giga Solar Materials Corp, holding a market cap of $444.2 million, specializes in the production of conductive pastes used in the manufacturing of solar cells. The company plays a crucial role in the supply chain of the solar industry, providing essential materials that enhance the performance and efficiency of solar cells. Giga Solar’s focus on advanced material science and technology ensures its products meet the stringent requirements of the solar market, supporting the growth of renewable energy.
• Motech Industries, Inc. Motech Industries, Inc. is a veteran in the solar industry with a market cap of $412.5 million. Founded in 1981, Motech is one of the oldest and most established solar companies in Taiwan. The company manufactures high-efficiency solar cells and modules, and it has a strong presence in both the residential and commercial solar markets. Motech’s extensive experience and continuous innovation have solidified its reputation as a leader in the solar technology sector.
• Tainergy Tech Co. Ltd Tainergy Tech Co. Ltd, with a market cap of $187.4 million, focuses on the production of high-efficiency solar cells. The company prides itself on its advanced manufacturing processes and commitment to sustainability. Tainergy Tech’s products are designed to maximize energy output while minimizing environmental impact, making them a preferred choice for eco-conscious consumers and businesses.
• ANJI Technology Co. Ltd ANJI Technology Co. Ltd, valued at $173.4 million, is known for its innovative solar products and solutions. The company specializes in the development and production of solar cells and modules, aiming to provide cost-effective and efficient solar energy solutions. ANJI Technology’s dedication to research and development ensures that it remains at the forefront of technological advancements in the solar industry.
• Hengs Technology Co. Ltd Hengs Technology Co. Ltd, with a market cap of $61.5 million, is a significant contributor to Taiwan’s solar industry. The company provides a range of solar products and services, including solar panels, inverters, and energy storage systems. Hengs Technology is committed to promoting renewable energy and sustainability through its innovative and high-quality solar solutions.
• Acmepoint Energy Services Co., Ltd. Acmepoint Energy Services Co., Ltd. has a market cap of $55.2 million and offers comprehensive energy services, including the development, installation, and maintenance of solar power systems. The company focuses on delivering customized solar solutions that cater to the unique needs of its clients. Acmepoint Energy Services’ dedication to quality and customer satisfaction has earned it a solid reputation in the solar energy market.

These companies represent the forefront of Taiwan’s solar industry, driving innovation and contributing to the global shift towards renewable energy.