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keyword:Sharon Chen9 result(s)

Press Releases
Annual Decline for Feed-in Tariff Should be Set at 4% in Order to Meet 2025 PV Installation Goals, Says TrendForce

2019/08/19

Energy

According to the latest “Solar Powering Taiwan: Special Report” by EnergyTrend, a division of TrendForce, Taiwan's PV installations made it past the 1GW mark for the first time in 2018, attracting many investors to set up PV power plants in Taiwan The Bureau of Energy has therefore increased their installation goal for 2019 to 15GW In order to reach this goal, they will be focusing on four big areas: Taiwan Sugar demonstration projects; industrial factory roofing promotion projects; large developer promotion projects; and projects applied for approval in 2018   TrendForce Analyst Sharon Chen points out that, in order to deal with the very first stages of energy liberalization, Taiwan requires the use of FiTs (Feed-in Tariffs) to widen citizen participation Thus, in order to reach 20GW in total accumulated installations by 2025, it is suggested that the decline rate of the average FiT be set at around 4% Given the average FiT in 2019, 54258 NTD/kWh, it is estimated that the average FiT for 2025 will come to around 42472 NTD/kWh, and power plant investors may still receive the most basic IRR (internal rate of return)   Lowering FiTs by the year has become a global trend Since power plant investors will necessarily seek to lower the LCOE (Levelized cost of electricity), it has become the investors' top concern to find ways on how to use power gain modules and inverters that increase electricity generation while keeping the CAPEX and OPEX low Naturally, this forms the key to gaining a foothold in the market for module and inverter suppliers URE Safely Sits the Shipment Throne for 1H19, while AUO's Shipments Grow Analyzing Taiwan's module market, URE still takes the throne in 1H19, with AUO taking second, and CSI taking third, which is the first time it has done so Compared to last year, the Taiwan market took up 10% less in share of all URE shipments in 1H19 Thus we see that companies have gradually adjusted their global strategies and lowered participation in the Taiwan market AUO followed closely behind, and grew significantly in shipments compared to 2018 after adjusting sales strategies TSEC's shipments for 1H19 were mainly the contributions of supplying large-scale projects located in Chiayi, whereas shipments for the indicative ground-mounted 150MW PV system project in Qigu, Tainan this March will begin in 2H19 TSEC is therefore predicted to jump forward again in shipment rankings in 2019 Notably, TSMMC (Motech + Giga Solar) jumped all the way to sixth place after winning a project from a large EPC developer VPC Certifications are Here, with Taiwan's Inverters Shipment Rankings to Reshuffle Yet Again Taiwan has been enforcing VPCs (Voluntary Product Certifications) for inverters since May 20, 2019, with most Taiwanese inverter suppliers beginning to take up VPCs since 2018 Hence, when looking at Taiwan's inverter shipments from 1H19 onwards, we see Taiwanese suppliers standing out from the rest In Taiwan markets, Delta still reigns as the champion in inverter shipments, while other suppliers went through another reshuffling Among them, Goodwe, being an early entrant in the Taiwan market and one of the earlier suppliers to test for VPC compliance, reached fourth place in shipments for 1H19 German inverter giant SMA saw a noticeable fall in shipments in 1H19, which may be attributed to unclear strategies for the Taiwan market following its exit from China's market Satcon, who won second place in 2018 but has yet to acquire a VPC and has made adjustments to its agent strategies, saw fewer sales in 1H19 TrendForce's latest webinar: Regional Project Report – “Solar Powering Taiwan: Special Report ” has already begun! This webinar attempts to give penetrating analyses into power plant supply chain, power plant demand and investment or risk management for key equipment What are you waiting for ? Watch the Webinar here for more exciting content:  https://webinartrendforcecom/pv-power-plant-webinar-en/indexhtml

Press Releases
Taiwan EPC Supplier Rankings for 2018: Chailease Energy's Market Share Gone Above 10%, Says TrendForce

2019/04/17

Energy

According to the latest Regional Project Report – “Solar Powering Taiwan: Special Report ” by EnergyTrend , a division of TrendForce , new installations in the Taiwan's PV system market may reach 158GW in 2019 If 2020 sees 2GW worth of new installations, then the Bureau of Energy, Ministry of Economic Affairs may reach their set goal to accumulate 6GW in new installations by 2020 Among Taiwan's EPC suppliers ranked for 2018, Chailease Energy takes the lead and boasts a market share of 10% EnergyTrend Analyst Sharon Chen explains that Taiwan's PV EPC suppliers do not make a clear distinction between developers, EPC, contractors and PV project owners, often mixing the four Parent companies are often further divided into numerous special purpose vehicles (SPVs), mainly due to Taiwan's finance banks assigning a financing limit to each SPV Companies must create another SPV should they exceed this limit   Chailease: Taiwan's Leading PV Project Owner and EPC Supplier EnergyTrend ranked Taiwan's EPC suppliers for the first time Although Chailease Finance, boasting the largest amount of installations in 2018, focuses on leasing as per namesake and entered the PV industry rather late, it was able to establish its position as the leading EPC supplier in a short amount of time This is mainly because Chailease purchased solar farms directly in its early days—at least 100MW per year— and established an Energy Development Company later in 2015, trying its hand at development, operation and maintenance Chailease hopes to possess at least 2GW plant capacity by 2025 and capture a market share of 10% Yet according to EnergyTrend's statistics, Chailease's PV systems have already hit this 10% mark in 2018 SinoPac Most Supportive of PV Financing, While Major Banks and Insurance Companies Enter PV One by One Looking at banks, SinoPac has been taking up PV financing projects back in 2012, and has financed over 600MW in accumulated capacity as of 2018, taking first place in green energy financing; second and third goes to Cathay United Bank and ESUN commercial bank , respectively Analysis of SinoPac's operations show that, apart from putting large efforts into the major counties and cities, SinoPac's success derives from its deviating from conservative strategies adopted generally by other Taiwanese banks It instead integrated multiple financing services and promoted its products through a diverse range of channels, and aided the growth of many smaller EPCs, reducing their Capexes incurred in the establishment of power plants As for insurance, six insurance companies (including Cathay Life Insurance, the earliest PV entrant) have lined their sights on the stable gains from PV power plants and invested in PV Their investments are predicted to have come to over NT$110 billion as of today

Press Releases
Taiwan's Solar PV Market Continued to Grow in 2018 and Surpassed 1GW in Installations for the First Time, Says TrendForce

2019/04/10

Energy

According to the newest Regional Project Report –“Solar Powering Taiwan: Special Report” by EnergyTrend , a division of TrendForce , 2018 will prove to be the most disastrous year for Taiwan's solar PV manufacturers, yet the best year in terms of solar PV system installations downstream, bringing new installations up to 1GW for the first time in history The government is now actively pushing towards a goal of 15GW in new installations by the end of 2019 Judging from the rankings of and the positions taken up by module, inverter, downstream EPC contractors and bank and life insurance companies in 2018, EnergyTrend analyst Sharon Chen points out that though the market scale for PV systems aren't as large as that of wind power, the PV market has already undergone a long formation process Consider further the fact that PV charging stations have a relatively steady and high return on investment, and it's not hard to see why even banks and life insurance firms are scrambling to claim a portion of this market URE Modules Take Up Nearly Half the Market, While AUO Stands Firmest due to its Global Strategy The module market of 2018 differed from 2017's, which saw Neo Solar Power (NSP) and AU Optronics (AUO) as the leading double eagle URE benefited greatly from its three-in-one strategy, with NSP as the surviving company combining both Gintech and Solartech to become the top contender by module shipments in Taiwan, 2018: It reached 500MW in total shipments, with market shares leaping from 30% in 2017 to 48% in 2018 In comparison to URE, AUO maintained a global, overseas strategy, ensuring a consistent number of yearly shipments This put its 2018 shipments on a par with those in 2017, fully demonstrating its global strategy as the most stable among Taiwan module manufacturers Delta Electronics Exceed 1GW in Inverter Shipments in Taiwan, with SMA Market Shares Maintaining Steady Performance   The annual number of new installations of PV systems in Taiwan reached 1GW for the first time in 2018, nearly a one-fold increase from 2017 (520MW) Thus shipments for all vendors doubled in the inverter market But competitors are rushing in as the market expands, splitting the market shares of pre-existent products Apart from SMA, whose market share in the Taiwan region remained sure and steady, inverter manufacturers at home and abroad all experienced a decline in market shares in 2018, including Delta Delta still holds first place in inverter shipments for 2018 Although its market shares dropped by 10% compared to 2017, it nevertheless boasted double the shipments of second-place company, Satcon, which has Skwentex acting as sales representative in Taiwan, and reached this position in shipments thanks to the 100MW demonstration program carried out by the Renewable Energy Department under Taiwan Power Co

Press Releases
Obscured Policies in Taiwan’s FIT Scheme to Impact on Sustainable Development of Local Solar Supply Chain

2018/12/20

Energy

The Taiwanese Ministry of Economic Affairs (MOEA) has announced a 1017% decrease to next year’s feed-in tariff (FIT) rates for solar PV installations, which is much higher than the average decrease of 425% in the global PV industry This will make 2019 a tough year for Taiwan’s PV industry, with wider-than-expected impacts on the whole market, says EnergyTrend, a division of TrendForce According to EnergyTrend analyst Sharon Chen, since the second half of 2018, local PV companies have successively planned the construction of large-scale ground-mounted PV systems for 2019 Overall, the capacity is close to 1 GW However, developers in this sector face myriad construction challenges These include equipment that is resistant to salt corrosion for at least 20 years; and the costs of building substations Indeed, contrary to the rules for rooftop PV, most ground-mounted PV systems require developers to build a booster substation by themselves, meaning the costs for grid connection account for around 25% of the total installation costs In an environment where grid connection costs cannot be reduced and the FIT is greatly cut, EPC companies need to limit equipment costs by using cheaper modules and inverters, for instance, in order to maintain a high internal rate of return (IRR) EnergyTrend analyst Sharon Chen points out that current module prices are US$037/W on the spot market In this situation, the IRR will be just 260% after the FIT cuts, while it will take 15 years for companies to achieve a break-even point Meanwhile, in 2019, PV projects will only receive a 6% markup on FITs when they are fitted with VPC-recognized modules and inverters As such, companies may increase quotes to cover the associated costs of certification To combat this, modules prices need to be lowered to $030/W or less to make IRR rebound to 5%  However, we believe that even the most competitive module manufacturers in Taiwan may not be able to offer a price as low as this, let alone the prices needed for inverters Overall, Taiwanese manufacturers will find it difficult to follow the global price decline trends, due to high production costs, meaning modules and inverters made by Chinese manufacturers will continue to be more cost competitive  It has been a global trend to phase out FITs for solar PV projects EnergyTrend believes that the best way is to make clear the annual decline in rates to 2025, and to use the subsidy to assist in the development of energy storage, which can supplement intermittent energy sources like solar energy In this way, companies will also have a chance to assess the risks themselves, so that those which cannot fit in will be naturally eliminated from the industry In the long term, the solar energy industry needs healthy and stable development

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