Seoul, Korea [RenewableEnergyWorld.com] Displaybank, a market research and consulting firm for the solar and display industries, said that Korea’s PV installtion totals are expected to reach 200 megawatts (MW) by 2012.
According to Kenny Kim, executive vice president of Displaybank’s Solar & Energy division, Korea’s Ministry of Knowledge Economy recently unveiled its PV Market Creation Plan, which would allow the Korean PV installment market to increase to 200 MW by 2012. The Korean government recently announced the creation of a Renewable Portfolio Standard (RPS) to expand the PV market while securing the future for its domestic PV industry.
The Korean said that six power generation subsidiaries of Korea Electric Power Corporation (KEPCO) will develop 101.3 MW of PV by investing KRW 338.2 billion during the next three years. A total of 51.5 MW will be constructed subsidiaries of KEPCO and 49.8 MW are expected to be built by individual PV businesses.
“The RPS policy would allot an additional 100-150 MW as requirements in 2012 for PV that is planned to be gradually increased each year afterward, and the Green House installment business is expected to aggressively expand to where the Korea PV market would experience continuous growth,” Kim said.