Aquafarm Use and Energy Transition of the Aquavoltaics Policy on Small-Scale Aquaculture in Taiwan

Abstract

Aquavoltaics policy has been introduced in Taiwan to promote the integration of solar photovoltaic facilities on aquafarms. To explore the effects of the aquavoltaics policy on aquafarm price and small-scale aquaculture, we collected data on aquaculture and renewable energy materials. Subsequently, three groups of factors that influence the use of aquafarms (land, aquaculture, and renewable energy attributes) were analyzed using the hedonic price model to examine the effects of the aquavoltaics policy on aquafarm prices. We employed spatial econometrics models to estimate each variable's influence and analyze the factors that affect aquafarm prices, as well as the possible effects of implementing an aquavoltaics policy. The empirical results indicate that the implementation of the Two-Year Solar Promotion Plan has led to an approximately 10% increase in aquafarm prices, reflecting the policy's influence on land valuation and market expectations. Variables such as distance to urban areas, proximity to feeder lines, shellfish farming and empty ponds were found to significantly affect aquafarm prices. These findings suggest that when aquavoltaics policies are implemented in regions dominated by small-scale aquaculture, a systematic approach to aquafarm use and pricing is required. Moreover, developing integrated energy blueprints and aquavoltaic plans that balance economic, environmental, and fishery objectives is essential for achieving synergy between the fishery and renewable energy sectors.