The Inexperienced Power Expo, South Korea’s largest photo voltaic occasion, attracted the next variety of guests and exhibitors this yr, highlighting the power of the home PV business, regardless of current negatives. regulatory change.
The twentieth Worldwide Inexperienced Power Expo and Convention – held final week in Daegu, South Korea – highlighted the power of the nation’s photo voltaic business, regardless of a political surroundings that seems to supply little room for clear power.
the The tenth Fundamental Plan of Lengthy-Time period Electrical energy Provide and Demand, which was not too long ago printed by the South Korean authorities, decreased the 2030 renewable power goal from 30.2% to simply 21.6%. The federal government additionally introduced plans to cut back its feed-in tariff coverage and cut back the quantity of renewable power certificates (RECs) issued beneath the renewable portfolio normal (RPS) scheme for 2023 and past. These adjustments might cut back the dimensions of South Korea’s photo voltaic market from round 4.4 GW in 2021 and a pair of.7 GW in 2022 to greater than 2 GW in 2023, based on a number of analysts.
Nonetheless, occasion organizer Exco stated that the commerce present doesn’t undergo from these drawbacks. It famous that 300 firms from 25 international locations participated this yr, with 32,800 guests. “The 2022 version hosted 21,124 guests,” stated an Exco spokesperson. pv journalnoting that the honest can be greater when it comes to whole flooring area, though it didn’t present any particular numbers.
Home business
The success of the occasion is partly ensured by the power of the home module and inverter business. The nation is residence to main gamers equivalent to Qcells, Hyundai and OCI Photo voltaic, they usually all current their newest merchandise on the present.
Qcells, for instance, at present has 4.5 GW of annual manufacturing capability for cells and panels at its South Korean services. “However we plan to extend our cell capability to five.3 GW by the tip of 2023,” a spokesperson stated. pv journal.
Hyundai at present has 1.4 GW of module capability and 1.1 GW of cells. “We are actually about to current our new heterojunction modules,” stated an organization spokesperson.
OCI Photo voltaic presents two new efficiency inverters. It stated it plans to develop its gross sales abroad because of the enhance in inverter demand.
Different South Korean module producers on the commerce present embody Shinsung E&G Co. which operates an 800 MW module meeting facility. SDN, which at present operates two panel meeting factories, may even be on the present, as will Hansol, which owns a 500 MW module meeting facility.
As well as, inverter producer DASS Tech introduced a few of its gadgets to the commerce present. It stated that demand from exterior South Korea is growing now. “At the moment we’ve got an annual capability of 600 MW, however we could enhance it relying on future market circumstances,” stated a spokesperson.
The steadiness of this home business relies upon partly on current carbon footprint guidelines. This helps South Korean producers as a result of the nation has quite a lot of nuclear capability. Nonetheless, the foundations don’t utterly exclude overseas producers from coming into the market.
“Regardless of the carbon footprint necessities, Korea stays an open market with many alternatives,” stated Cindy Hu, managing director of Yingli Photo voltaic. “Nonetheless, we’re contemplating figuring out some native companions to qualify for these necessities, however it could take a while.”
This content material is protected by copyright and might not be reused. If you wish to cooperate with us and wish to reuse a few of our content material, please contact: editors@pv-magazine.com.
