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​Taiwan's Green Shift: Exploring Opportunities in the Renewable Energy Market and Prioritizing Occupational Health

Posted on August 2023 By LVI Associates

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Taiwan is embarking on a remarkable journey toward achieving a sustainable and green future. Recognizing the urgent need to combat climate change and reduce its dependence on fossil fuels, the country has been strategically diversifying its energy portfolio and embracing sources of renewable energy.

This transition not only signifies a significant step towards a cleaner environment but also offers promising market opportunities for investors, stakeholders, and industry professionals. In this article, we will delve into the flourishing renewable energy market in Taiwan, highlighting the latest trends and areas of growth, and discussing how the nation's commitment to occupational health is further enhancing this transition.

Diversification of Energy Sources

Taiwan's ambitious target to phase out nuclear power and increase the share of renewables in its energy mix has made the island a hotspot for investments in clean energy infrastructure. The government's commitment to sourcing at least 20% of its electricity from renewables by 2025 and achieving complete carbon neutrality by 2050 has led to a surge in renewable energy projects, particularly in solar, wind, hydro, and biomass energy.

Solar Energy Potential

Taiwan's geographical location provides ample sunlight throughout the year, making it an ideal region for solar energy generation. The government's drive to encourage solar installations and reduce regulatory barriers has attracted domestic and international investors, and has been further enhanced by favorable feed-in tariffs and incentives.

Wind Power Advancements

Taiwan's offshore wind energy sector has also gained significant momentum due to the island's strong coastal winds, making it an excellent candidate for offshore wind farms. The government's active support in terms of policies and funding, and international partnerships and collaborations bringing in expertise, have contributed to the rapid growth of offshore wind energy projects. These projects not only contribute to renewable energy employment but also have a positive economic impact on local communities, driving job creation and infrastructure development.

Occupational Health: A Key Priority

While Taiwan's transition to renewable energy brings numerous opportunities, it has also brought attention to the importance of safeguarding the health and safety of workers involved in these projects. The government and industry stakeholders have placed a strong emphasis on ensuring high standards of occupational health, so stringent safety regulations, comprehensive training programs, and the incorporation of cutting-edge technologies are shaping safe working environments. Prioritizing occupational health not only protects workers but also ensures the longevity of sustainable energy careers.

Renewable Energy Employment and Worker Benefits

According to our latest Renewable Energy Salary Guide, which surveyed over 400 renewable energy professionals across the APAC region, medical cover was the most common benefit received for Taiwan's offshore wind professionals, with nearly a quarter (23%) having access to this benefit. Extra holiday came in second at 19%, and 17% received a travel allowance. These benefits are all important for employees’ health and well-being, and all count towards a more attractive compensation package.

When companies consider careers for these sustainable energy professionals, take into consideration how your salary and benefits package can be competitive and attractive. Without hiring and retaining the right talent, renewable energy projects will struggle to get off the ground.

Investor Confidence and Economic Growth

Taiwan's commitment to renewable energy and occupational health not only aligns with global sustainability goals but also fosters investor confidence. As the renewable energy sector expands, it creates a ripple effect throughout the economy, generating job opportunities, driving innovation, and enhancing local communities. The economic impact of wind energy, especially in wind farm development, even has the potential to reshape the landscape of the region.

Taiwan's Green Shift Towards Renewable Energy

Taiwan's green shift toward renewable energy is a multifaceted journey that encompasses environmental stewardship, economic growth, and occupational health. The nation's dedication to diversifying its energy sources and ensuring the well-being of its workforce has set the stage for a promising future.

As the renewable energy market in Taiwan continues to flourish, investors, businesses, and communities worldwide have a unique chance to participate in this transformative movement while contributing to a sustainable planet for generations to come. If you are looking to expand your renewable energy team, speak with our specialist consultants and let us put together a competitive package that helps you attract the best renewable energy talent.

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