Taiwan increases installed solar power target

Target for 2013 is 175 MW from 130 MW.

The Bureau of Energy said this is the second time the target has been raised in eight months. It previously increased the 2013 target from 100 MW to 130 MW in November 2012.

The higher goal is part of a strategy to strengthen Taiwan's use of solar power and its solar cell industry. The strategy includes a million solar rooftop program; a technology upgrade and expansion into overseas markets.

The bureau said the strategy will help increase the domestic solar industry's output value by US$580 million annually. It has invited 10 banks to provide financial backing for the sector and work with research institutes to develop a financial model for domestic solar power systems.