The feed-in tariff (FIT) rates for certain offshore wind power facilities and geothermal power generation facilities will be raised in 2023, according to Taiwan’s Ministry of Economic Affairs (MOEA) as it announced the 2023 FIT rates for renewable energy generation on Friday.

FIT rates are fixed prices paid to renewable energy (RE) producers for each unit of energy produced and provided to the electricity grid.

The MOEA said FIT rates for electricity from solar power would remain the same as the year 2022 at between NT$3.8680 (US$0.13) and NT$5.8952 per kilowatt-hour (kWh), thanks to the prospect of the construction cost index returning to a more stable condition in the second half of 2023.

For wind power, the FIT rate for power from onshore wind farms that generate less than 30 kilowatts (kW) will remain at NT$7.4110 per kWh, while power from facilities with a capacity of 30 kW and above will have a FIT rate of NT$2.1286 per kWh, the MOEA said.

Meanwhile, the FIT rate for electricity from offshore wind power facilities will be increased to NT$4.5085 per kWh.

Regarding bioenergy, the FIT rate for power generated from anaerobic digestion equipment has risen to NT$7.0089 per kWh, while the FIT rate for electricity generated without anaerobic digestion equipment will remain the same as for 2022 at NT$2.8066 per kWh.

For waste-to-energy power production, the FIT rates for energy from both agricultural waste and regular waste will remain unchanged from 2022 at NT$5.1407 and NT$3.9482, respectively.

For small hydro energy production, the new FIT rate for output under 500 kW is NT$4.8936 per kWh.

For output above 500 kW but under 2 megawatts (MW), the FIT rate will be NT$4.2285 per kWh.

The FIT rate for small hydro power generation facilities with an output above 2MW will remain the same as for 2022 at NT$2.8599.

The FIT rate for geothermal power generation facilities with less than 2MW output will be increased to NT$5.9406 per kWh, while the FIT rate for generating more than 2MW will be the same as in 2022 at NT$5.1956 per kWh.

Marine energy FIT rates will remain at NT$7.3200 per kWh which is the same as for 2022.

The MOEA said additional rates would be added to existing incentives from 2022 to encourage renewable energy producers.

Source: Focus Taiwan News Channel