BMI View: Despite ambitious targets, expansion in Taiwan's non-hydro renewables sector will remain below- potential primarily due to the country's unstable regulatory environment and low liberalisation levels in the power sector. Considering the Taiwanese government's focus on offshore wind power and the significant solar panel manufacturing base in the country , we do expect growth to pick up marginally across these segments over out 10-year forecast period. That said, non-hydro renewables con tribution to Taiwan's total power generation mix will remain below 4%.
|e/f = BMI estimate/forecast. Source: EIA, BMI|
|Generation, Non-Hydropower Renewables, TWh||6.776||7.335||7.856||8.389||8.898||9.529||10.110|
|Generation, Non-Hydropower Renewables, % y-o-y||15.009||8.260||7.097||6.782||6.072||7.089||6.105|
|Capacity, Non-Hydroelectric Renewables, MW||2,278.3||2,580.5||2,809.9||3,029.8||3,257.5||3,528.6||3,783.6|
|Capacity, Non-Hydroelectric Renewables, % y-o-y||11.5||13.3||8.9||7.8||7.5||8.3||7.2|
Latest Updates A nd Structural Trends
This quarter we have maintained our forecasts for Taiwan's non-hydro renewables sector and expect the country's capacity to reach almost 4.8GW by 2025, with the annual growth rate averaging 7.7% between 2016 and 2025. However, non-hydro renewables contribution to the total electricity generation will remain very limited, rising from just 2.7% in 2015 to 3.7% in 2025.
In April 2016, Google informed it will provide seed funding for renewable energy certification programs across Asia helping businesses to source electricity from clean energy sources. The initiative will start in Taiwan, by launching certificates for renewable power. The company did not disclose the amount of funding to be provided.
In February 2016, Taiwan's Pingtung County launched the first floating solar system in the country, which was constructed by Taipei-based LCY Group and local company Sun Rise E&T Corp. According to the Pintung county government, the new facility can produce 273kWh daily.
In early 2016, the state-run power monopoly Taipower announced it will undergo a corporate restructuring, establishing four business units: a power generation division, nuclear power division, a transmission system division and a distribution and service division. This will be the first company's restructuring in 70 years.
The Taiwan Renewables Report researched at source contains BMI Research's assessment of the current renewables market in Taiwan. The report also contains historical data together with forecasts to end-2018 covering electricity generation (TWh) and electricity capacity (MW).
The renewables sectors covered in the report include Wind, Solar, Geothermal, Tidal and Wave, and Biomass (See Table of Contents for exact coverage). The report also features details on government green energy agendas and funding opportunities, as well as presenting a detailed list of key renewables projects currently being planned or undertaken in Taiwan, their capacity, the timeframe of construction and their current status.
The report discusses the various energy policies currently in force, including targets, subsidies and the relevant infrastructure developments or limitations which might impact on renewables growth, analysing the potential effects of regulatory changes in conjunction with the background macroeconomic outlook. Finally, there is a general overview of the competitive landscape in Taiwan, together with a detailed summary of the main utilities and manufacturers present and their business operations.
BMI's Taiwan Renewables Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with unique independent forecasts and competitive intelligence on the Taiwan renewables industry.
- Benchmark BMI's independent renewables industry forecasts for Taiwan to test other views - a key input for successful budgeting and planning in the renewables market.
- Target business opportunities and risks in the Taiwan renewables sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in the country.
BMI Industry View
Summary of BMI's key industry forecasts, views and trend analysis covering the renewables market in Taiwan, regulatory changes, major investments and projects and significant multinational and national company developments.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the renewables sector and within the broader political, economic and business environment.
BMI Industry Forecasts
Historic data series (2010-2012) and forecasts to end-2018 for electricity generation (TWh) and electricity generating capacity (MW) for each individual renewables sector present in the country.
These in turn are broken down into:
Electricity Generation: Overall capacity (TWh), growth % change year-on-year, KWh per capita, % of Total Non-Hydropower renewables generation, % of total electricity generation.
Electricity Capacity: Overall capacity (MW), growth % change year-on-year, % of non-hydroelectric renewables capacity and % of total capacity.
These forecasts are in turn supported by explicit assumptions, in conjunction with analysis of the key risks to the main forecast.
Business Environment Rankings
BMI's Renewables Business Environment Rankings provide fully comparable Risk-Reward Rankings aimed at investors in the regional renewables market.
The rankings methodology makes sophisticated use of various industry, economic and demographic data point.