Legislators yesterday criticized a proposed renewable energy development bill (再生能源發展條例草案), saying it may over-reward local firms' investments and shift the cost of subsidizing such investments to the public.
The bill proposes setting a guaranteed minimum electricity rate to encourage local companies to invest in renewable energy.
Unlike coal and natural gas, which cost about NT$1 per kilowatt-hour and NT$3 per kilowatt-hour respectively to produce, solar energy production would cost much higher — between NT$17 and NT$21 per kilowatt-hour.
Aside from guaranteed minimum electricity prices, the bill also proposes establishing a renewable energy fund that would be used to subsidize renewable energy prices and equipment.
“The bill is too rewarding. It is almost a life-long guarantee and even more secure than buying insurance,” Chinese Nationalist Party (KMT) Legislator Lin Tsang-min (林滄敏), said at the legislature’s Economics Committee yesterday.
As local fuel and electricity prices are expected to rise in the short term, Democratic Progressive Party Legislator Chang Hua-kuan (張花冠) said she was afraid if the bill passes, the cost of developing renewable energy would be reflected in general electricity prices and add to the public burden.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday obtained the government’s approval to inject an additional US$7.5 billion into its US subsidiary, the Department of Investment Review said in a statement. The department approved TSMC’s application of investing in TSMC Arizona Corp, which is engaged in the manufacturing, sales, testing and design of IC and other semiconductor devices, it said. The latest capital injection follows a US$5 billion investment for TSMC Arizona approved in June. The chipmaker has broken ground on two advanced fabs in Arizona with aggregated investments approved by the department totaling US$24 billion thus far. According to TSMC, the first Arizona
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