Korea PV Market Expected To Reach 200MW by 2012
According to thepresentation material for "2009 Korea Green Energy Show PV Conference"that Kenny Kim, Executive Vice President, Displaybank (Solar &Energy division) on October 15, recently announced by Korea’s Ministryof Knowledge Economy with "PV Market Creation Plan" would allow KoreanPV installment market to increase to 200MW by 2012.
Accordingto Kim referencing to the presentation material, Korean governmentrecently acknowledged its domestic PV market and industry’s risks andannounced Renewable Portfolio Standard (RPS) on July 2009 in order toexpand new PV market with securing domestic PV industry and furtherproclaimed details of PV creation plan to move forward in September.
Lookingat the Korean government’s proclaimed plan in detail, six powergeneration subsidiaries of KEPCO (Korea Electric Power Corp.) withinthe second RPA agreement are planned to supply 101.3MW in PVinstallment by investing KRW 338.2 billion during three year periods inorder to newly create PV market.
At this time, 51.5MW will beconstructed by the power generation subsidiaries of KEPCO and 49.8MW isplanned to be purchased from individual PV businesses. In other word,these six power generation subsidiaries of KEPCO are planned to supply101.3MW divided in 21MW for 2009, 32MW for 2010 and 49.8MW for 2011 forthree years through the RPS model business.
For three years,from 2009 to 2011, 101.3MW market will be created from PV makers’perspective and 49.8MW market creation from individual PV businessperspective. The Renewable Portfolio Standard (RPS) policy that islikely to be implemented from 2012 is known to be consideringincreasing suggested 80~100MW in capacity requirements at the publichearing in June to 100~150MW in capacity requirements.
Korea PV Installment Composition Forecast (Unit: MW)(Source: Korea’s Ministry of Knowledge Economy Renewable Energy Sector, Displaybank, Sept.2009)
Consideringthese PV creation plan from the government, Korea PV market would seean increase of over 30 percent from pre-RPS Model Business to grow to98MW in 2009, 132MW in 2010 and 200MW by 2012, according toDisplaybank.
Kim notes, "RPS policy would allot additional100~150MW as requirements in 2012 for PV that is planned to begradually increased each year afterwards and Green House installmentbusiness is expected to aggressively expanded such that Korea PV marketis anticipated to see continuous growth".
Displaybank will behosting "2009 Korea Green Energy Show PV Conference" on October 15 atCOEX in Seoul, Korea. The PV conference on October 15 will be the placeto discuss future Korea PV market through presentations from Korea’sMinistry of Knowledge Economy Renewable Energy Sector and Displaybank.
Search 26k+ Solar Articles
- Securitization and Renewable Energy
- The All-Electric Fiat 500e
- The Energy Supercomputer
- A Breakthrough or Just Another PV Module?
- Bloom Energy Sees Revenue Drop in Q1
- Catching Photosynthesis in the Act
- Top 5 Ways The U.S Military is Utililizing Renewable Energy
- New Solar Technology to Increase Efficiency
- The Rise Of The Green Machines
- Solar Savings: Tax Credits and Solar
- Australian Scientists Printing Solar Cells Down Under
- Why are Auto Dealers Hating on Tesla?