In this blog we dig in to the newest Greentech initiatives launched by the Taiwanese government. Accessing these new programs may provide real and concrete market opportunities for Danish & Nordic companies, who generally carry a strong brand within this sector in East Asia.
“Going Green” was one of the central themes in Taiwan’s 2018 election, and paved the way for a solid victory for the present government. Since then, the government has launched a series of ambitious programs, promoting a dramatic rethinking of current energy production and storage in Taiwan.
For instance, the government has committed itself to going nuclear-free and increasing the share of renewable energy sources from 3 % to 20 % by 2025. As these initiatives carry a high political priority, the government is open for new ideas and international cooperation. Here, we outline some of the best opportunities for Nordic companies in Taiwan:
Taiwan is already ahead of its neighbors when it comes to smart grid systems. As of this writing, the government has built 18 model smart grid systems around Taiwan and its offshore islands.
Additionally, Taipower, the government power company, is installing smart meters to allow remote reporting of electricity consumption data as part of an implementation of advanced metering infrastructure. Thus, companies specializing in digitizing grids and battery storage, may find Taiwan an interesting destination. Also, Taiwan’s climatic environment is ideal for wind and geothermal energy, and therefore well-suited to capitalize on green devices related to these technologies.
Taiwan is an established leader in the field of ICT, and already a regional leader in growing LED and solar cell industries. This makes Taiwan a good place for companies within energy storage efforts, and as we mentioned previously, it is possible to keep your entire supply chain within the country.
For companies in this field, there is also a new initiative by the Energy and Carbon Reduction Office of Taiwan (ECRO) to set up a sustainable energy and technology park in Tainan city to integrate research, manufacturing, and talent development in the semiconductor field.
In May of 2018, Taiwan’s municipalities joined together to promote a new Smart City strategy within the country. The fruits of this project will include venues where innovative projects can experiment in their proof of concepts, such as housing management applications produced by startups being tested in the public sector. One example of this is the housing at Startup Terrace.
This initiative also means local governments are particularly open to new smart city projects, and will be holding regular conferences seeking innovative solutions to urban issues.
The government has also launched a major IoT Experimental Platform to encourage innovation in smart city solutions. The platform is meant to act as a testbed for startups deploying smart city concepts across Taipei. As of this writing, the initiative has engaged over 80 projects, and is still in its early days.
Go Smart, the government’s main smart city project, is also launching this year. Any smart city startups should keep an eye out for new programs open to international companies and the continuing success of ongoing initiatives kickstarted by the Taiwanese government.