Looking to the future, is it possible for Taiwan geothermal to flourish? Drawing on the successful experience of Taiwan's first MW-level geothermal power plant, the MOEA announced "Geothermal Power Generation Demonstration Incentive Measures" on May 20th, providing incentives up to NT$3 million per case.
These measures are divided into investment incentives and exploration incentives. The target of investment incentives are local governments and the central government will provide resources to assist local governments in completing the promotion and guidance of geothermal power generation investment programs. The targets of exploration rewards are geothermal developers, who will assist in apportioning risks related to geothermal exploration in the form of subsidies.
The MOEA stated that investment incentives are based on the successful experience of Yilan Ching Shui Geothermal Power Plant. In order to enable the local government to improve site planning, investment attraction, selection, and follow-up performance management of power plant construction and other related operations, the upper limit of incentive funds for each project is NT$3 million. There is a principle of one application per year and the implementation period of the plan is limited to 4 years.
In terms of exploration reward, considering the high risk of pre-exploration of geothermal power plants, these measures are used to share the exploration risks of operators. Reward items include geological, geophysical, geochemical and other surface surveys, drilling, casing, and productivity testing. Each project is provided with NT$100 million funding with a limit of 50% of the exploration cost of the operator. There is a principle of one application per project and the implementation period of the plan is limited to 5 years.
The MOEA further explained that the application period for these measures will be from the effective date of the measures to 5:00 PM December 31, 2025 and will be conducted on a first-come first-serve basis.
The MOEA emphasized that 98% of Taiwan's energy comes from imports and it is very important to improve energy independence and diversification. In particular, Taiwan is located in the Pacific Ring of Fire and has inherent advantages in geothermal potential and power generation utilization. It will continue to steadily promote the development of geothermal energy to innovate the green economy, and promote local employment and sustainable development. Hopefully, all sectors of society can join hands with the government to promote geothermal development.
(Image：Outlookxp, CC BY-SA 4.0, via Wikimedia Commons）
