Taiwan’s Bureau of Energy, Ministry of Economic Affairs announced the second review results for the 2018 feed-in tariffs (FiTs). The FiT for solar PV is lowered. Among all, the FiT for residential systems with scale smaller than 2kW declined the most (10%). The FiT rate in 1H18 is down 11.8% from 2017 and that in 2H18 will decline 13.5% from 2017.
Major measures for the 2018 FiT rates:
1. The rate bonus program is still applicable to high-efficiency modules and systems installed in the Northern regions.
a. High-efficiency modules*rate bonus: 6% bonus for the 2018 FiT rate when using high-efficiency modules.
b. Rate bonus program in the Northern region: 15% bonus for the 2018 FiT rate when using systems in the Northern regions.
* The definitions of high-efficiency modules in 2017 are 60-cell mono-Si modules with power output over 290W and 60-cell multi-Si modules with power output over 275W. The definitions of high-efficiency modules in 2018 are 60-cell mono-Si modules with power output over 295W and 60-cell multi-Si modules with power output over 280W.
2. Rate bonus program for off-shore islands: Before submarine cable is connected, 15% bonus is applicable for offshore islands in 2017, but will change to 4% bonus after it’s connected.
3. Have the timeframe loosen for the 2018 FiT rate: More flexibility for ground-mounted and floating projects with scale more than 10MW. Projects that are completed before June 30th 2019 are still applicable to the 2018 FiT rates.
The published rates are just preliminary results. The final results won’t be announced until the hearing is held (it’s expecting to be held in early-November) and the third review meeting is finished. However, according to the past experiences, the preliminary results will not be much different from the final results.
Since Taiwanese high-efficiency modules have to be produced in Taiwan, the selling price of Taiwanese mono-Si PERC modules reached US$ 0.51-0.53/W after taking into account the bonus rates for high-efficiency modules. That of 270W conventional multi-Si modules reached US$ 0.40-0.42/W in order to maintain the same IRR when there are no subsidies provided. Because subsidies will be lowered next year, module prices will reduce US$ 0.02-0.025/W in H1 and lower US$ 0.027-0.035/W in H2 under the circumstances where IRR and other material prices remain unchanged.
Taiwan’s newly-added installation reached 152MW by July this year. There are 266MW of projects that have been approved in 1H17. Taiwan’s newly-added installation is usually concentrated in 2H17, especially Q4. In addition, subsidies may be lowered 1.8%-11.7% in 1H18, leading to a possible installation boom. Therefore, Taiwan is expecting to add 400-500MW of installation in 2H17. The total installation will reach 600MW in 2017 and will continue to increase to 850MW in 2018.
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