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The chamber suggested, however, that Taiwan expand cooperation with other countries in the field.
"Certainly this move (the legislation) will help, but more is needed in the form of tariff reductions, subsidies and searching for expertise and best practices from other countries," the ECCT said.
The renewable energy development statute, which cleared the legislative floor June 12, lays down a legal framework to encourage investment in renewable energy production and offer incentives to local consumers to install renewable energy equipment.
In addition to permitting the state-run Taiwan Power Co. to buy electricity generated by private renewable energy investors, the bill also authorizes the government to take measures to speed up the development of renewable energy technologies.
The ECCT cited Germany as Taiwan's most likely partner in the field. Germany is considered to be the market leader in solar energy and has been supporting the technology for years, the group said.
Some European companies were already bringing their expertise to Taiwan, the ECCT said, citing as an example Germany-based Abakus Solar AG being contracted to build a playground solar structure at the Taipei European School.
The project will integrate solar panels into a playground roof to form a kind of shelter for the children from the sun and the rain without completely shutting out the light while generating about NT$50,000 (US$1,513) in electricity a year and saving 5.5 tons of CO2 emissions.
(CNA) rw
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