The state of the Korean market

Korea's Yeongdeok New & Renewable Energy Center

Korea's Yeongdeok New & Renewable Energy Center

South Korea should be a solar and wind leader, given that the nation imports 96% of its energy. Yet renewables account for less than 2% of its electricity.

The country had installed 492MW of wind by the end of February, and 982MW of PV to the end of 2012. By comparison, Japan had installed roughly 2.6GW of wind and 7.4GW of PV by the end of last year. So why is Korea lagging so far behind?

The short answer is government policy.

Although former president Lee Myung-Bak championed an $83.6bn “green growth” programme, the emphasis was on R&D spending to increase South Korea’s global market share in renewables. “Lee mainly focused on exporting renewable energy,” argues Lee Sanghoon, director Log in to read complete article.

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