隨著全球變遷和機會興起，農村成為生產再生能源 (Renewable Energy) 的潛力地區。許多國家都致力於生產再生能源以解決環境問題。然而，由於大多數城市人口密集而無法實現100%由自己生產再生能源，因此極度依賴其他地區來供給能源。農村因空地面積相對較大而成為生產和提供再生能源的主要地方。但值得注意的是，農村設置再生能源裝置涉及土地規畫和環境保護等敏感問題，也可能對農村發展產生影響。為了促進綠能發展，綠能憑證（Renewable Energy Certificates）已成為全球能源市場中極具吸引力的創新工具。台灣的綠能憑證中心（Taiwan Renewable Energy Certification Center ）於2017年成立，並做為綠能交易的主要市場。本研究使用TREC中心的資料來評估綠能交易對農村發展的影響。除了探討再生能源裝置對鄰里土地面積的外溢效果(spillover effect)外，本研究進一步探討 TREC 的交易量對台灣 300 個地區的農地交易價格的影響。本文使用最小平方法迴歸(Ordinary Least Squares Regression)和泊松迴歸(Poisson Regression)分析 2017 年至 2021 年的 TREC交易記錄。研究結果顯示，加入RE100 (再生能源100%)的公司 以及有外籍董事的公司可能購買較多的 TREC。而TREC的再生能源設置也產生外溢效果，而使周邊的再生能源設備增加。此外，再生能源設備的裝置會使每公頃農地價格下降新台幣2200萬元，但在人口密集處卻是使價格上升。本研究結果顯示，再生能源裝置對鄰近土地的溢出效應與 TREC 交易量呈負相關，並對農地交易價格產生負面影響。

With global challenges and opportunities emerging, rural areas have the potential for generating renewable energy (RE) facilities. Sustainable energy is being produced in most countries to deal with environmental problems. However, since most cities can't achieve 100 percent RE on their own due to their high population density, they are highly dependent on other regions for energy supply. Due to the relatively large area of vacant land, rural areas are the main place for producing and supplying RE for all residents. However, it is worth noting that installing RE systems in rural areas involves sensitive problems like land planning and environmental protection, which might also impact rural development. Renewable energy certificates (RECs) have become an attractive and innovative tool among global green electricity markets to promote green energy development. Taiwan Renewable Energy Certification (TREC) center was established in 2017 and served as the primary market for green energy transactions. This study uses data from the TREC Center to assess the impact of RE installations on rural development. In addition to exploring the spillover effect of RE installations on neighborhood land areas, this study further explores the impact of the TREC's transaction volume on farmland transaction prices in 300 regions in Taiwan. This paper uses Ordinary Least Squares (OLS) regression and Poisson regression to analyze TREC transaction records from 2017 to 2021. The research results show that companies participating in the RE100 institution and companies having foreign directors are likely to purchase more TREC certificates. Additionally, the RE installations of TREC also have a spillover effect, which boosts the RE installations on neighboring lands. Moreover, the farmland price will decrease by 22 million NT$ per hectare due to the installation of RE systems, but it will increase the price in densely populated areas. The results of this study show that the spillover effect of RE installations on the neighborhood land negatively correlates with the TREC transaction volume and negatively affects farmland's transaction price.

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