South Korea Plans to Increase Electricity Generation by Renewables to 35% by 2040

South Korea as one of the largest coal importers in the world plans to reduce the usage of coal as a means to produce electricity. Energy experts say that the Korean government plans to close some of its aging coal generators to open the market for greener alternatives.

“We have a big challenge ahead to reduce carbon emissions. To some degree, we could do it by expanding renewable power but that won’t be enough to cut emissions so we need to think about reducing coal power and weigh the costs of that change,” said Park Jong-bae, professor of electrical engineering at Konkuk University.

The country plans to increase renewable share from 6% to nearly 20%. Subsequently, the Import of coal has dropped by 9% in the first four-month of 2019. Although this reduction of coal-generated energy was replaced by nuclear and not by renewables, experts claim this will change. Due to the history of nuclear power, it is estimated that the usage of nuclear power will be reduced as the older nuclear power plants will close by the year 2030.

The Korean government has also stated that they also have the goal of reaching 30% to 35% renewable energy share by 2040. However, they also said that the lack of land and low levels of solar radiation could hinder the goal. The country has the potential to install 103 GW to 129 GW solar PV that could cover their goals.

———-***———-

Source:@reuters & @Solar_Edition

Photo:@statista @Solar_Edition 

……………

‘All rights to go to the author of the news & image as mentioned above’

See also  AECEA reported that China approved 15GW of grid parity solar projects

———————–