Taiwan’s Ministry Of Economic Affairs Announces 2024 Renewable Energy Feed-In Tariffs (FIT) Review Results

The Ministry of Economic Affairs (MOEA) has concluded its assessment of the “R.O.C. 2024 Renewable Energy Feed-in Tariffs (FIT) and Calculation Formulas,” marking a significant milestone in Taiwan’s renewable energy sector. The review results showcase a nuanced approach to incentivizing renewable energy adoption while addressing sector-specific dynamics.

The key highlights of the 2024 Feed-in Tariffs (FIT) Rates for Renewable Energy are as follows:

1. Solar PV: In an effort to promote rooftop solar installations among micro, small, and medium-sized households, the FIT rates for solar PV have been structured into two phases annually. Phase one rates range between NT$ 3.7635 to 5.7848 per kWh, while phase two rates fall between NT$ 3.7236 to 5.7055 per kWh.
2. Wind Power: The FIT rate for wind power remains unchanged from 2023 levels. Rates vary based on capacity, with onshore wind farms under 30kW set at NT$ 7.4110 per kWh, and offshore wind farms at NT$ 4.5085 per kWh.
3. Biomass Energy: Anaerobic digestion facilities witness a slight increase in FIT rates to NT$ 7.0192 per kWh, while non-anaerobic facilities and agricultural categories maintain their 2023 rates.
4. Waste to Energy: FIT rates for agricultural and general industrial wastes remain steady from 2023.
5. Small Hydropower: FIT rates are sustained at 2023 levels, varying according to capacity.
6. Geothermal Power: Facilities under 2MW experience a marginal increase in FIT rates, while larger capacities retain 2023 rates.
7. Marine Energy: FIT rates remain consistent with 2023 levels.

Furthermore, the MOEA emphasizes its commitment to waste management and energy independence. The ministry plans to bolster management mechanisms in collaboration with the Ministry of Environment, focusing on solid recovered fuel (SRF) power generation.

Regarding floating offshore wind power, the MOEA is actively engaging stakeholders to finalize FIT rates, reflecting Taiwan’s dedication to renewable energy expansion.

In conclusion, the MOEA assures a transparent and law-compliant approach to FIT rate establishment, aligning with national development goals and industry trends. The announcement underscores Taiwan’s resolve to foster a sustainable and resilient renewable energy landscape.