Solar Market in South Korea

July 9, 2019

South Korea is equipped with a completed manufacturing chain of solar photovoltaics, from silicon wafer production to the installation of PV systems, which also shows Korean competitive power. Therefore, South Korea is available for a developed solar market. In addition, South Korea stopped its Feed-in-Tariff (FiT) scheme of solar energy in 2011 nationwide, while the Renewable Portfolio Standard (RPS) scheme has acted as the main impetus in the development of PV around the country from then on. Combined with other subsidy programs and regional policies, the national renewables projects, especially solar ones, are excited, and relevant regulations and implements are more and more improved. In this report, it is aimed to provide an overview of South Korean solar situation, as well as its energy background, solar manufacturing chain, solar projects and Korean particular policies on renewables and solar. At the end, a future insight of floating PV is introduced since South Korea is developing its status in this very field.

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