Feb 9 2010
Research and Markets has released a new market report titled “The Korean PV Market Report."
The solar energy market in Korea has lost much of its heat and is yearning for new incentives. As per the EPIA statistics, Korea was ranked 4th in the installed PV capacity list in the year 2008. A generous feed-in-tariff with a ceiling of 500 MW in the year 2008 helped the country to achieve this ranking. The successful feed-in-tariff system was modified in 2008 by the Government of Korea, which could significantly shrink the PV market in the country during the next three or four years.
This PV market report published by Solarplaza forecasts a market size of 98 MWp in 2009 and by the year 2012, to increase to 132 MWp. The market is anticipated to grow to more than 160 MWp by 2011 as per the report. The report provides a detail overview of PV supply chain and in-depth analysis of the current market status, regulation procedures, and market forecasts. This report, which provides comprehensive details about the PV market in Korea, is available in English.
Though the successful feed-in-tariff system will be capped with a quota, other support programs and incentives have been launched to encourage the solar PV market in the country. Samsung and Hyundai have picked up the vision of the Korean government, Green & Growth, and initiated steps for large scale production of solar cells and modules. Both the companies are determined to replicate their success in the consumer electronics in the solar market also and play an important role in the world’s solar industry.
Taking into account the low price of solar modules in the country, the present feed-in-tariff continues to be attractive. Another measure, one million green homes program, (2009-2020) encourages the development of zero-energy houses. For 400,000 homes that were allocated to the program, the government will bear 60% of the solar installation costs. A mandatory Renewable Energy Portfolio Standard is intended to be introduced by the government in the year 2012. These and various other measures taken by the government will lead to continuous growth of the solar PV market in Korea during the next few years.
Source: http://www.researchandmarkets.com