The energy conservation achieved by utilizing waste heat in the energy and industrial sectors has became more and more important after the energy crisis in the 1970s because it plays a vital role in the potential energy-efficiency improvement. In this regard, cogeneration (combined heat and power, CHP) systems are thus becoming attractive due to the energy, economic, and environmental policies for pursuing stable electricity supply, sustainable development and environmental pollution mitigation in Taiwan. The objective of this paper is to present an updated analysis of CHP systems in Taiwan during the period from 1990 to 2010. The description in the paper is thus based on an analysis of electricity supply/consumption and its sources from CHP systems during the past two decades, and centered on two important regulations in compliance with CHP systems (i.e., Energy Management Law and Environmental Impact Assessment Act). Based on the total net power generation from CHP systems (i.e., 35,626 GWh) in 2011, it was found that the carbon dioxide reduction benefits were estimated to be around 20,000 Gg.