What happened to the FIT rate for solar power in Taiwan?

The FIT rate for solar power saw a slight decline. Taiwan has completed the review of 2024 renewable energy feed-in tariffs (FIT), with the rates for solar PV seeing a minor reduction from last year, whilst the other sectors were either raised or maintained.

What percentage of Taiwan's electricity is generated by solar PV?

Solar PV accounted for 19% of Taiwan’s total installed power generation capacity and 5% of total power generation in 2023.

How much does a PV system cost in Taiwan?

The new feed-in tariffs range from NT4.0031 ($0.14) to NT5.8952 ($0.21) per kWh. PV systems of all types will be applied a grid tariff of NT0.0656 ($0.002)/kWh and the funds raised through this fee will be used to set up a PV module recycling scheme. Taiwan had an installed solar power of 5.81 GW at the end of 2020. Image: Happypixel/Pixabay

How big is Taiwan solar PV market?

According to GlobalData, solar PV accounted for 19% of Taiwan’s total installed power generation capacity and 5% of total power generation in 2023. GlobalData uses proprietary data and analytics to provide a complete picture of this market in its Taiwan Solar PV Analysis: Market Outlook to 2035 report. Buy the report here.

What type of energy does Taiwan use?

Taiwan's renewable energy generation relies on solar, onshore, and offshore wind power, with solar capacity being the majority. Taking the capacity structure in 2022 as an example, 86% of the capacity came from solar power, while onshore and offshore wind accounted for 7% of the total.

What are the different types of solar panels in Taiwan?

Solar panels can be roughly divided into thin-film solar panels and silicon wafer solar panels. Taiwan's solar industry is still dominated by silicon wafer solar panels, accounting for nearly 90% of the market. Thin-film solar panels are beautiful, bendable, and can generate electricity in low-light environments.