Industry Trend Report|Taiwan's Energy Storage Industry Develops Rapidly Amidst Policy Drivers

Published On: 2022/08/05|Categories: 綠能(Sustainable Energy)|

Taiwan's energy resources 98% rely on imports to enhance energy independence and diversity is important, coupled with the energy transition has become an international trend, so in recent years the government has actively promoted the development of green energy in order to achieve the goal of carbon reduction on its own; however, over the past few years to promote the construction of green energy in the direction of solar photovoltaic power generation end and offshore wind power, energy storage devices are not included in the "Renewable Energy Development Ordinance", in the absence of incentives to slow down the development of the storage market in the past few years. The lack of incentives has led to the slow development of the energy storage market in the past few years. This situation has not changed until recently. In 2021, the Ministry of Economic Affairs instructed Tepco to set a target of installing 1GW of energy storage capacity by 2025. When the 303 power outage in 2022 triggered a wave of condemnation of power shortages, the Ministry of Economic Affairs (MOEA) further raised the storage target to 1.5GW, with the additional 500MW to be used mainly for the construction of storage systems integrated with solar farms. Of this amount, 160MW will be built by TEPCO itself, while the remaining 840MW will be released to the private sector, with TEPCO purchasing and dispatching its storage power through the power trading market.

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