TAIPEI, Taiwan -- In an effort to conserve energy and reduce environmental impact, an Energy Bureau (能源局) initiative allowing businesses and households to voluntarily purchase “green power” sourced form renewable sources will commence today.

According to the bureau, the energy will have have an additional NT$1.06 per-kilowatt hour premium tacked onto the cost of energy. Households and businesses participating in the program will receive a certificate of purchase, and earn carbon credits. The bureau stated that revenues from the initiative will be allocated towards the development of renewable energy source. In addition, Taiwan will be setting the precedent as the first Asian nation to have establish such a green energy purchasing scheme, the bureau said.

The initiative is designed to allow specific businesses and households to take on a greater share of the burden in the pursuit of renewable green energy sources, said the bureau.

The bureau stated that up to 310 million kilowatt hours of energy will be earmarked for the program, which is scheduled to run for the next three years, adding that green energy will be sold in units of 100 kilowatt hours.

The bureau however, acknowledged that willingness to participate in the program thus far has remained tepid. In addition, with the addition of the green energy premium, energy prices may soar as high as NT$5 in the peak-usage summer season for households and businesses consuming 500 kilowatt hours of electricity monthly.

The bureau added that awards will be given to businesses who have demonstrated resolve in upholding commitment to minimizing environmental impacts by purchasing green energy.

Shared from: The China Post