South Korea has minimize its 2030 renewable power goal from 30.2% to simply 21.6%, because it seeks to scale back assist for photo voltaic and different clear power sources, whereas making ready the bottom for extra which is nuclear energy and liquefied pure gasoline. A foyer group is at present difficult the plan on the Seoul Administrative Court docket.
The Ministry of Commerce, Business and Power (MOTIE) of South Korea just lately revealed the tenth Primary Plan on Lengthy-Time period Electrical energy Provide and Demand. it lowered the 2030 renewable power goal from 30.2% to simply 21.6%.
Final week, a bunch of 24 civic organizations filed to withdraw the plan on the Seoul Administrative Court docket.
“The federal government stated the goal discount is to consider public acceptance and feasibility associated to renewable power deployment,” Kim Eunji, a researcher on the Seoul-based NGO Options for Our Local weather, stated pv journal.
Kim stated the change will act as a market sign and have an effect on the whole renewable power market.
“With the objectives and insurance policies of the federal government altering from one administration to the subsequent, the unpredictability scares buyers away from actively investing in clear companies and initiatives. power within the fragile ecosystem of the renewable power trade,” he added. “Moreover, it makes it troublesome for modifications favorable to renewables to happen.”
Kim stated the South Korean authorities plans to scale back its feed-in tariff coverage and scale back the variety of renewable power certificates (RECs) issued beneath the renewable portfolio commonplace (RPS) scheme for 2023 and past.
“The bid dimension for photo voltaic PV beneath South Korea’s Renewable Power Certificates (REC) scheme has been set 1,000 MW – A 50% discount in comparison with the identical interval final yr, the place 2,000 MW for every procurement train was allotted,” stated Kim. “It appears the renewable curtailment drawback will solely worsen with the most recent plan to will lower the minimal output of fossil gasoline energy crops.”
The South Korean Power Company held two 4 GW of PV tenders final yr. In two tenders held in 2021, it allotted capability within the 2 GW and a pair of.2 GW rounds, and contracted 1.2 GW and 1.4 GW in 2020. South Korea’s new energy plan will increase the 2030 goal of nuclear energy from 23.9% to 32.8% and the goal of liquefied pure gasoline (LNG) from 19.5% to twenty.9%.
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