Renewable Energy Demand in South Korea: A 2030 Forecast and Policy Recommendations (Corporate Renewable Energy Initiative (CoREi) & Plan 1.5)[English]

<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 1
The growth of renewable energy seen from an energy security perspective 2
Renewable energy generation costing less than fossil fuels 2
Climate-related policies of the current administration 3
Growing corporate demand for more renewable energy 4

Estimated Domestic Renewable Energy Demand for 2030 5
Mechanisms for creating demand for renewable energy: voluntary initiatives and the RPS scheme 6
Estimated RE demand from voluntary initiatives 7
Estimated RE demand from the RPS scheme 9
Estimation of renewable energy demand for 2030 10
Comparison with the government’s 2030 goal for renewable energy deployment 12

[Case Studies] Expansion of Renewable Energy Demand at the Supply Chain Level 13

Policy Recommendations for System Improvement 19

[Download the report]

문의(Inquiries): 김예영 연구원(Ye Young Kim, Researcher) (gckorea@globalcompact.kr, 02-749-2150)