Taiwan vows US$32 billon spending spree on clean energy as it lags on climate targets
- National Development Council report lays out a road map for the island to hit net-zero emissions by 2050, a goal set by President Tsai Ing-wen last year
- Taiwan has struggled with an energy transition that attempts to cut emissions while moving away from nuclear energy
Taiwan’s Tsai promises tough look at power grid after mass outage
The report came a day after Minister of Economic Affairs Wang Mei-Hua told lawmakers the island was likely to reach the goal of producing 20 per cent of its power from renewable sources in 2026 or 2027, later than the original plan of 2025, the Economic Daily News reported.
“Taiwan power users including TSMC are most likely to see a rising power bill in the coming years, due to the clean energy transition combined with an increase in natural gas prices,” said BloombergNEF power analyst Wei Hanyang. Still, it “may not be sufficient to prevent Taiwan from another serious blackout if there were unexpected malfunctions or extreme weather events”.
Wednesday’s report calls for 60 per cent to 70 per cent of Taiwan’s power to come from renewable sources by 2050, 9-12 per cent from hydrogen and as much as 27 per cent from fossil fuels equipped with carbon capture technology. The government’s plan to phase out nuclear power by 2025 remains unchanged, Economic Daily News reported, citing Premier Su Tseng-chang.