Taipei, April 24 (CNA) Taipei city government officials said Tuesday that the city will provide subsidies to help cover up to 40 percent of the cost for companies that upgrade their electrical equipment with more energy-efficient products to help them cope with an upcoming price rise in electricity.
The city's Department of Economic Development said the city government will provide practical support to encourage companies to take part in eco-friendly policies.
According to the subsidy program, small firms that spend over NT$10,000 (US$339) on new equipment that cuts their energy consumption by 20 percent will be eligible for the subsidies.
Taking convenience stores as an example, the department said it would cost them around NT$120,000 to replace their old air conditioners with more energy-efficient models, which could save them around 27 percent in energy costs.
Although electricity bills will increase by 30 percent in May, such stores could save around NT$48,000 per year by using more efficient systems, enabling them to recoup their costs in 1.5 years, the department said.
Moreover, businesses with capital of over NT$80 million will receive a maximum 30 percent subsidy if they spend over NT$500,000 on products that help them save 20 percent or more on power costs.
For example, the department encouraged such firms to replace their office lighting with energy-saving electronic ballast lighting, which could help cut electricity use by 48 percent per year.
(By Johnson Sun and Maia Huang)