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The Future of Korean REC Subsidies And Storage Market
According to the Green New Deal, the government plans to expand solar panels and wind turbines to 29.4 GW in 2022, up from 18 GW last year, especially solar panels are expected to be installed on nearly 225,000 public buildings. To achieve energy-saving and emission reduction, the government will put efforts into establishing new smart grids to help energy utility being able to respond to
customers more directly through advanced digital technology, and energy storage systems will be
also focused on especially in specific areas such as islands or mountainous terrain.
Korean government also committed to increasing the maximum amount of installed power generation capacity to 58 GW (33%) by 2030 and to 77.8 GW (40.3%) by 2034. LNG power generation will
climb to 54.5 GW by 2030 from 39.7 GW in 2019 and Wind Capacity is expected to reach 8 GW by
2030.

Meanwhile, Jeju power control relaxation plan and power generation constraint minimization
plan by using ESS has also been launched, in Jeju island substation, 95MW/35MWh ESS will
be installed for renewable generation limitation and the microgrid ESS system will also start for
42 islands around 0.5GWh battery but still at the designing stage.

From this, Energy Box is going to organize a webinar entitled: “The Future of South Korea REC
Subsidies and Energy Storage Market” scheduled on 22 of April, which is demonstrated to provide you a better understanding of its market, including presentation, panel discussion and Q&A.

Our Schedule
14:50 - 15:00 PM Overview of Korean solar market ( Kyung Soon Park-Korea Energy Agency)
15:00-15:10 PM Growatt
15:10-15:20 PM Trina
15:20-15:30PM Y.T.KIM,Team Leader,Korea Battery Industry Association
ESS policy of REC and subside in Korea

Apr 22, 2021 02:30 PM in Seoul

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