Taiwan maintains FIT rates for PV

The Taiwanese authorities have decided, once again, not to reduce feed-in tariff (FIT) rates for PV, as initially planned, in order to support more solar deployment.

Taiwan’s Ministry of Economic Affairs (MoEA) has announced that FITs for PV installations that went into force in 2022 will remain unchanged in 2023. It originally planned to reduce the tariffs by between 1% and 3%.

“The domestic photovoltaic industry is still partially affected by the price of raw materials and labor shortage,” the MOEA said in a statement. “However, PV system prices will gradually stabilize in the second half of this year.”

Residential installations with capacities ranging from 1 kW to 10 kW will be given tariffs of up to TWD 5.8952 ($0.20)/kWh. The Taiwanese government said the tariffs will be maintained to encourage the industry to invest in new solar capacity. It made the same move at the end of June 2022, when it confirmed the January-June FITs for the second half of the year.

The Taiwanese government has revealed that the country reached a cumulative installed solar capacity of around 7.7 GW at the end of 2021, with new annual additions reaching 1.9 GW. Recently, the Taipei Times reported that new PV capacity additions for 2022 likely reached 2 GW.

The authorities aim to install 20 GW of solar by 2025, including 3 GW of rooftop PV capacity and 17 GW of ground-mounted solar capacity.

This post appeared first on PV Magazine.

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