Thanks to the government's efforts to promote renewable energy, the installation density of solar water heaters in Taiwan is now the third-highest in the world, Vice Economics Minister Hou Ho-shong (侯和雄) said yesterday.
Addressing a seminar held by the Chunghua Institution for Economic Research on the impact of soaring oil prices on the economy, Hou pointed out that the government is trying to work out plans for energy conservation and the enhancement of energy efficiency to cope with high oil prices.
These include a plan to amend the Energy Management Law (能源管理法) to regulate energy efficiency and to enact a renewable energy development law with the goal of seeing renewable energy generation reach 5,130 megawatts, or 10 percent of the total capacity generated by the country's power stations, by 2010, Hou said.
Hou noted that the government is promoting the use of various renewable energy sources, including wind, solar, solar thermal, biomass energy and geothermal energy.
The government is also planning to set up a solar-heated indoor swimming pool this year, Hou said.
The government has subsidized the installation of 74 solar power systems with a total generation capacity of 647 kilowatts, including one at the Presidential Office, and is carrying out a "solar-powered city" project in Tainan County, according to Hou.
Also, the government is expected to complete the country's first geothermal power plant in Ilan County in 2007, he said.
Meanwhile, Hou said, the government is planning to replace all the traffic lights around the country with energy-conserving light emitting diodes next year.
With international oil prices rising to as high as US$70 per barrel in August and fluctuating around US$57 per barrel at present, the Ministry of Economic Affairs and Ministry of Finance have suggested that the Cabinet lower the taxes on gasoline, diesel and fuel oil by 25 percent until Dec. 31 in an effort to stabilize domestic consumer prices, he said.
Taiwanese firms have increased investment in the Philippines in recent years as Manila’s ties with Washington deepen and global supply chains continue to shift away from China, an expert at the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The Philippines had not been among Taiwanese investors’ top choices in Southeast Asia, CIER Taiwan ASEAN Studies Center director Kristy Hsu (徐遵慈) said at a seminar in Taipei. However, Taiwan’s investment in the country has grown significantly since the COVID-19 pandemic, reaching US $257 million last year, a high in recent years, she said. Although Taiwan’s total investment in the Philippines still lags
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