Resources

Renewable Energy Demand in South Korea: A 2030 Forecast and Policy Recommendations

The Corporate Renewable Energy Initiative (CoREi) and Plan 1.5 have co-published a report to estimate the mid-to-long-term renewable energy demand from Korea’s corporate sector. The results indicate that the level of renewable energy demand is projected to reach 157.5~172.3TWh by 2030, which is significantly higher than 97.8TWh, the expected renewable energy output from solar PV and wind power under the 10th Basic Plan for Long-term Electricity Supply and Demand.

[Table of Contents]

The Expansion of Renewable Energy: An Irreversible Trend

The growth of renewable energy seen from an energy security perspective

Renewable energy generation costing less than fossil fuels

Climate-related policies of the current administration

Growing corporate demand for more renewable energy

Estimated Domestic Renewable Energy Demand for 2030

Mechanisms for creating demand for renewable energy: voluntary initiatives and the RPS scheme

Estimated RE demand from voluntary initiatives

Estimated RE demand from the RPS scheme

Estimation of renewable energy demand for 2030

Comparison with the government’s 2030 goal for renewable energy deployment

[Case Studies] Expansion of Renewable Energy Demand at the Supply Chain Level

Policy Recommendations for System Improvement

Inquiries: Seongeun Lee Senior Researcher(seongeun.lee@kosif.org), Seung Youn Seo Researcher(syseo@kosif.org)