(Bloomberg) — South Korea is planning a large-scale expansion of solar panels mounted on industrial rooftops and parking lots as it seeks to overcome land constraints that are slowing the transition. clean energy of this country.
The energy ministry said in a statement the Asian country is looking to add a total of 4 gigawatts of solar power at industrial complexes in the city of Daegu and northern Gyeongsang Province. According to the statement, that would be nearly four times the total of 1.1 gigawatts of solar electricity from factory sites around the country today.
Korea lacks land to build large-scale solar farms The project aims to expand capacity by using idle space in large industrial parks. The department did not provide a time or cost for the planned construction.
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According to the Green Energy Institute, although solar is South Korea’s top renewable energy source, the country needs at least about 400 gigawatts from solar to reach net zero. The country has installed about 21 gigawatts by the end of 2021, according to BloombergNEF.
Renewable energy is expected to account for 21.6% of total electricity generation by 2030, according to South Korea’s latest climate policy plan, down from a previous estimate of 30.2%.
The energy ministry said it held a meeting on Wednesday with companies including Korea East-West Power Co., Korea Hydro & Nuclear Power Co., Hanwha Asset Management Co. and Hyundai Electric & Energy System Co. to discuss solar plans in detail.