This study investigates the primary factors influencing wave energy potential in the waters surrounding Taiwan by utilizing data from the National Ocean Database and Sharing Platform (NODASS) together with reanalysis datasets. The results indicate that wind speed is the dominant driver of wave energy, showing a strong positive correlation with significant wave height in open-sea regions. Due to the channeling effect in the Taiwan Strait, the correlation coefficient between wind speed and wave height exceeds 0.8, revealing substantial potential for wind–wave energy integration. Long-term observations demonstrate that both significant wave height and sea surface temperature exhibit increasing trends consistent with global warming, while short-term variations are governed by seasonal dynamics, with the highest energy potential occurring during winter when sea temperatures are lower. The Central Mountain Range also exerts a critical influence by blocking monsoons and altering the spatial distribution of wave energy, and typhoon events lead to abnormally high waves on the windward side. The findings of this study provide a quantitative foundation for the hybrid utilization of offshore wind and wave energy in Taiwan and support decision-making in marine disaster prevention and sustainable energy development.