South Korea Plans to Quadruple Solar Power From Factory Rooftops

Apr 12, 2023 12:47 PM ET
  • South Korea is intending an enormous growth of solar panels mounted on commercial roofs as well as parking lots as it looks for to conquer land restrictions slowing its clean energy transition.

The Asian country seeks to include an overall of 4 gigawatts of solar power in commercial complicateds in the city of Daegu and north Gyeongsang district, the energy ministry claimed in a declaration. That would certainly be practically quadruple the total amount of 1.1 gigawatts of solar power from factory areas around the country currently, according to the statement.

South Korea lacks the available land to develop massive solar farms. The project aims to expand capacity by using idled space in massive industrial complexes. The ministry didn't supply a timeline or price for the prepared build-out.

While solar is South Korea's leading renewable-energy resource, the nation needs a minimum of about 400 gigawatts from solar to reach net zero, according to the Green Energy Institute. The nation had concerning 21 gigawatts set up at the end of 2021, according to BloombergNEF.

Renewable resource is expected to make up 21.6% of complete power generation by 2030, according to Korea's newest climate policy plan, less than a previous estimate of 30.2%.

The energy ministry stated it held a conference Wednesday with business including Korea East-West Power Co., Korea Hydro & Nuclear Power Co., Hanwha Asset Management Co. as well as Hyundai Electric & Energy System Co. to discuss information of the solar plan.

Source:
bloomberg.com

1253


SOLAR DIRECTORY
Solar Installers, Manufacturers