Prospects of Taiwan's solar energy development and policy formulation
Taiwan lacks energy stock and has been paying great attention to developing renewable energy to improve energy security and sustain economic growth. Solar energy is attractive to Taiwan's government as the recorded radiation is substantial, and a significant amount of fallow land is available f...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2024-01-01
|
| Series: | Heliyon |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S240584402311019X |
| _version_ | 1827367190105423872 |
|---|---|
| author | Shan-Shan Kung Hailing Li Chih-Chun Kung |
| author_facet | Shan-Shan Kung Hailing Li Chih-Chun Kung |
| author_sort | Shan-Shan Kung |
| collection | DOAJ |
| description | Taiwan lacks energy stock and has been paying great attention to developing renewable energy to improve energy security and sustain economic growth. Solar energy is attractive to Taiwan's government as the recorded radiation is substantial, and a significant amount of fallow land is available for panel installation. This study investigates the potential solar energy production from Crystalline silicon (c-Si) and cadmium Telluride thin-film (CdTe) cell systems, estimates each system's capital requirement, and compares the economic and environmental benefits to explore effective investment strategy. The results show that, on average, the c-Si module could produce 10,644 GWh per year while the CdTe mode would yield a total electricity of about 9365 GWh. The useful life also plays an essential role in the investment requirement. With a 30-year useful life, the systems can reduce the annualized installation and maintenance cost to about NT$3.16 billion. In terms of offset efficiency, every MWh produced would result in at least 13.63–15.49 metric ton of carbon emission offset, and the offset value per GWh can be up to NT$5.77 million, which provide attractive economic incentives to energy suppliers. We point out that the acquisition of low-cost financing sources such as green bonds, as well as the improvement of current emission trading systems (ETS), would greatly benefit solar energy development. |
| first_indexed | 2024-03-08T09:02:59Z |
| format | Article |
| id | doaj.art-e4077da1b4bc4ab1af54a559c3d3db28 |
| institution | Directory Open Access Journal |
| issn | 2405-8440 |
| language | English |
| last_indexed | 2024-03-08T09:02:59Z |
| publishDate | 2024-01-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Heliyon |
| spelling | doaj.art-e4077da1b4bc4ab1af54a559c3d3db282024-02-01T06:33:38ZengElsevierHeliyon2405-84402024-01-01101e23811Prospects of Taiwan's solar energy development and policy formulationShan-Shan Kung0Hailing Li1Chih-Chun Kung2School of Foreign Studies at Hubei University of Economics, Wuhan 430205 ChinaSchool of Economics at Jiangxi University of Finance & Economics, Nanchang 330013 ChinaInstitute of Interdisciplinary Research at Shandong University, Weihai 264209 China; Corresponding author.Taiwan lacks energy stock and has been paying great attention to developing renewable energy to improve energy security and sustain economic growth. Solar energy is attractive to Taiwan's government as the recorded radiation is substantial, and a significant amount of fallow land is available for panel installation. This study investigates the potential solar energy production from Crystalline silicon (c-Si) and cadmium Telluride thin-film (CdTe) cell systems, estimates each system's capital requirement, and compares the economic and environmental benefits to explore effective investment strategy. The results show that, on average, the c-Si module could produce 10,644 GWh per year while the CdTe mode would yield a total electricity of about 9365 GWh. The useful life also plays an essential role in the investment requirement. With a 30-year useful life, the systems can reduce the annualized installation and maintenance cost to about NT$3.16 billion. In terms of offset efficiency, every MWh produced would result in at least 13.63–15.49 metric ton of carbon emission offset, and the offset value per GWh can be up to NT$5.77 million, which provide attractive economic incentives to energy suppliers. We point out that the acquisition of low-cost financing sources such as green bonds, as well as the improvement of current emission trading systems (ETS), would greatly benefit solar energy development.http://www.sciencedirect.com/science/article/pii/S240584402311019XCrystalline silicon (c-Si)Cadmium telluride thin-film (CdTe)Economic analysisInvestment strategyCarbon offset |
| spellingShingle | Shan-Shan Kung Hailing Li Chih-Chun Kung Prospects of Taiwan's solar energy development and policy formulation Heliyon Crystalline silicon (c-Si) Cadmium telluride thin-film (CdTe) Economic analysis Investment strategy Carbon offset |
| title | Prospects of Taiwan's solar energy development and policy formulation |
| title_full | Prospects of Taiwan's solar energy development and policy formulation |
| title_fullStr | Prospects of Taiwan's solar energy development and policy formulation |
| title_full_unstemmed | Prospects of Taiwan's solar energy development and policy formulation |
| title_short | Prospects of Taiwan's solar energy development and policy formulation |
| title_sort | prospects of taiwan s solar energy development and policy formulation |
| topic | Crystalline silicon (c-Si) Cadmium telluride thin-film (CdTe) Economic analysis Investment strategy Carbon offset |
| url | http://www.sciencedirect.com/science/article/pii/S240584402311019X |
| work_keys_str_mv | AT shanshankung prospectsoftaiwanssolarenergydevelopmentandpolicyformulation AT hailingli prospectsoftaiwanssolarenergydevelopmentandpolicyformulation AT chihchunkung prospectsoftaiwanssolarenergydevelopmentandpolicyformulation |