Abstract
Taiwan's energy transformation to change the power structure is a new energy policy for economic development, industrial upgrading and environmental preservation. This study investigates the possibility of evaluating the economic spillover effects and CO2 emissions to evaluate new energy policy objectives by investing in solar and wind power generation systems. The research results show that the short-term solar investment in economic effects is superior to wind power generation, and the economic spillover increases the scale of CO2 emissions. The main reason is that the high ratio of equipment for wind power generation comes from imports and reduces the spillover effect. Observing the economic spillover effects of individual industries, solar investment has the largest increase in “Sewage Treatment Sector and Resource Recovery” sectors, while wind investment has the largest increase in “Machinery-related industries”. The scale of CO2 emissions in individual industries, solar investment has increased the most emissions by “Chemical” sectors, and wind investment has increased by “Service industries”. However, from a long-term perspective, the industrial upgrading through economic restructuring and the low emission coefficient of wind power will greatly improve the economic spillover effect of wind investment and improve the environment.Keywords: solar power, wind power, economic spillover effects, CO2 emissions.JEL Classifications: Q43, Q56, C54, C67DOI: https://doi.org/10.32479/ijeep.8152
Highlights
Taiwan’s power sources have relied mainly on thermal power generation, which accounts for more than 80% of the total power supply, with coal-fired power accounting for the majority
In 2002, Taiwan joined the WTO’s world trade system, which represents the challenge of facing a larger international market in a liberalized economy
This study found a long-term correlation between energy consumption, environmental sustainability, economic growth and tourism indicators
Summary
Taiwan’s power sources have relied mainly on thermal power generation, which accounts for more than 80% of the total power supply, with coal-fired power accounting for the majority. Under such a power structure, Taiwan’s economic development has created a high degree of economic growth for 30 years. The export recession in the fourth quarter of 2009 was nearly 40% This series of international economic environment and world financial events have made Taiwan must rethink industrial restructuring and energy policy, because these are closely related to the competitiveness of Taiwan’s industrial market and deeply affect future economic development. The goal of the new energy policy is to replace thermal power generation with renewable energy, and to promote economic investment by investing in high-tech
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