Taiwan splits power FIT for geothermal for sizes under and above 2 MW
Mountain view over Taipei, Taiwan (source: flickr/ Connie Ma, creative commons)
Alexander Richter
10 Feb 2022
Taiwan has announced the split of the feed-in-tariff available to geothermal power plants for sizes under and above 2 MW in installed capacity.
Taiwan’s Ministry of Economic Affairs convened the second review committee meeting to review the renewable energy feed-in tariffs (“FIT”) rates and announced December 30, 2021 the draft of “R.O.C. 2022 Renewable Energy Feed-in Tariffs (FIT) and Calculation Formulas.” The 2022 draft reveals both increases and decreases in the rates compared to those in 2021; in general, the government continues to encourage diverse developments of renewable energy.
For the 2022 Feed-in Tariffs (FIT) Rates for Renewable Energy Electric Power for geothermal have been divided into different categories based on capacity size. For capacity sizes under 2MW, the FIT rate is 5.7736 NTD/kW. As for capacity sizes above 2MW, the FIT rate remains the same as 2021 at 5.1956 NTD/kWh.
In current exchange rates, this means USD 0.2075/ kWh for capacity sizes under 2 MW, and USD 0.18675/ kWh for sizes above 2 MW.
To increase the installed capacities of geothermal and small hydro in indigenous areas, a new profit-sharing mechanism for indigenous people has been added.
As explained by the MOEA, the committee engaged in careful and in-depth discussion of the draft of 2022 Feed-in Tariffs (FIT) Rates for Renewable Energy Electric Power in two review meetings and 9 breakout sessions (three sessions each for solar PV, wind power, and biomass and other renewables), and during the review period, a number of seminars were also held for opinion collection and information disclosure, so that opinions and cost data provided by all sectors could be fully considered at the review meetings.
Lastly, the MOEA stated its plan to convene the “R.O.C. 2022 Renewable Energy Feed-in Tariffs (FIT) and Calculation Formulas Hearing” in January 2022 in accordance with the approval and review procedures, and the MOEA welcomes all sectors to participate in the hearing and offer precious opinions; later on, the MOEA will convene approval and review meetings to discuss the opinions provided by all sectors and accelerate the approval process and announcement of the draft, allowing renewable energy businesses to plan their investments in advance.
