Cabinet approves plan to boost green energy

The Taiwanese Cabinet approved a green energy plan that sets a goal of lifting the annual output of the nation’s renewable energy industries from last year’s NT$160.3 billion (US$4.85 billion) to more than NT$1 trillion (US$30.23 billion) by 2015, Minister of Economic Affairs Yiin Chii-ming said. The government added that it hopes that energy from renewable resources will grow from 7% of total energy output in 2008 to 15% by 2025. The government also approved spending a total of NT$45 billion (US$1.36 billion) on subsidies and research and development to promote various types of clean energy within a five-year framework. The government will allocate NT$25 billion (US$755.62 million) in subsidies for solar power, light-emitting diodes, wind power, biofuels, hydrogen energy and fuel cells, and electric cars. Another NT$20 billion (US$604.5 million) will be allocated for research and development, and the government’s National Development Fund will invest in venture capital funds that will invest in green energy. (April 23/24, 2009)