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South Korea plans to raise the proportion of renewable energy to 35%

2019-04-22

South Korea plans to raise the share of renewable energy in energy production to 35 percent by 2040, according to a draft policy revision released by the government on Friday.

It is also part of a revised energy use plan unveiled by the ministry of industry, trade and energy to reduce fine dust pollution and create sustainable economic development, according to south Korean media.South Korea's ministry of industry, trade and energy plans to increase the share of renewable energy in energy production to about 30 to 35 percent by 2040, more than four times the current figure of 7.6 percent.

South Korea's master plan for energy use, which is revised every five years, aims to transform to a clean, safe energy source within 20 years to meet electricity demand and reduce air pollution.It is also in line with south Korean President moon jae-in's energy initiative.

Officials at the ministry of industry, trade and energy also said they would focus on reforming the structure of energy demand rather than expanding energy supply.

South Korea, Asia's fourth-largest economy, has been trying to wean itself off heavy reliance on coal and nuclear power and increase the proportion of its gas turbines.In 2018, coal accounted for 41.9 percent of South Korea's electricity generation, by nuclear power (23.4 percent) and natural gas (26.8 percent).

Further reading:

In 2017, South Korea proposed the 3020 plan for renewable energy, which aims to make up 20 percent of total energy consumption by 2030.In order to achieve this goal, 48.7gw of renewable energy capacity needs to be added during this period, and the installed capacity will eventually reach 63.8gw, among which wind power accounts for 28% and photovoltaic for 57%.

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