Since this energy-intensive economic structure can only be adjusted in the long run, it will be very difficult to achieve meaningful reductions in energy consumption in the near future.
The relatively low price of electricity is another problem, as it gives people and companies in Taiwan little incentive to cut their electricity usage.
This will break Taipower, as all capital expenditures on the power plant to date―NT3 billion, or around US.5 billion―will turn into debt.
The following section illustrates energy use trends in Taiwan starting with an examination of possibilities for zero growth in electricity demand, and also assesses Taiwan’s energy supply trends to investigate possibilities for 100 percent renewable energy in the future. Small chance for zero electricity demand growth rate The Bureau of Energy (BOE) in the Ministry of Economic Affairs (MOEA) recently announced preliminary research results indicating that it is impossible to reach the aim of zero electricity demand growth rate before 2030.
Energy imports as a share of total imports increased from 10.28 percent in 2002 to 25.41 percent in 2012, and as noted above increased from about 4 percent of GDP over 14 percent in this same period.
The rapid increase of imported energy cost has been partially absorbed by the two state-owned power companies, at significant loss.
In short, Taipower will bank out if the fourth nuclear power plant is abandoned. Significant greenhouse gas emissions weaken trade competitiveness The overwhelming reliance on fossil fuels also incurs the problem of significant greenhouse gas emission.
49 percent of Taiwan’s electricity is generated by coal, and coal fired thermal power plants are the island’s main greenhouse gas emitter.