1. Photovoltaic Power Applications in South-Korea For FinSolar Project Aalto University School of Business
Kim Yukyeong

2. Retail electricity prices in Korea
For
Household
kWh
monthly
Fixed rate € +
Electricity rate
€-ct/kWh
< 100
0,33 € 5
1,28 € 15
5,84 € 33
> 500
10,35 € 57
Industry &
Commercial
Depends on the season (summer is higher), usage voltage and capacity
price; basic rate per kW (alle 7 €/kW)
+ electricity rate (alle 10 €-ct/kWh)
Market share
KEPCO control/manage the whole electric market in Korea
Korea Electric Power Corporation, KEPCO

3. Total capacity of PV & Generation of electricity from PV
Total electricity generation capacity v2013
Generated electricity
during the v2013
unit MW %
GWh PV
1 555
1,8
1 605
0,29
Renewables
*9 973
*11,5
21 438
3,86
Total
86 969
100
Source: Korea Energy Management Corporation
Total energy consumption(demand) v2013: GWh
*annual report IEA-PVPS-2013-Korea

4. Power stations from renewable energy
in Korea
1.2015
Number of
power stations
Capacity
(MW) PV
9 273
1 894,2
Wind 85
641,6
Hydro
153
1 767,0
Others
130
2 095,9 **
Total
9 641
6 398,7
Total capacity from all technology
94 102
**others; tidal, bio, fuel cell …
KEMCO (Korea Energy Management Corporation), update

5. Annually installed PV capacityMW
FIT - v2011
RPS v2012 –
Approx. 1,2 GW
annual report IEA-PVPS-2013-Korea + KEMCO

6. Feed-in Tariffs program (v2002-2011)
Sell electricity directly to KEPCO with fixed price (€-ct/kWh) for 15(20)years
Year
Period
Under 30 kW
Under 1 MW
Over 3 MW
year
Rooftop
€-ct/kWh
Ground mounted
2006 15 57 ?
2008
2010 48 41 33 20 44 37 30
2011 43 35 28 39 32 25
**2015 -
? 24
** Under RPS program; sell electricity (SMP) directly to KEPCO + sell REC (renewable energy certificate) to the power generation company (REC price 7 €-ct/kWh )

7. National programs Renewable Portfolio Standards (v2012-2022)
Mandated requirement that the electricity utility business source a portion of their electricity supplies from renewable energies (company over 500MW)
Home Subsidy Program (One Million Green Homes, v )
This program was merged the existing rooftop PV system installation program (gov supports some of installation cost, household < 3kW)
Building Subsidy program (v2012-
Government supports up to 50% of installation cost for PV systems with a capacity below 50 kW (benefited 20MW)
Regional Deployment Subsidy program
The government supports 50% of installation cost for PV systems owned and operated by local authorities (benefited 71MW)
NRE Mandatory Use for Public Buildings
The new buildings of public institutions, the floor area over 1 000m2 are obliged to use more than 10% of their total expected energy by the newly installed renewable energy resource systems (up to 30% v2020)

8. Renewable Portfolio Standards (RPS)
Electrical power generation companies (yli 500 MW capacity, total 14 utilities v2014) should supply some portion of electricity from renewables.
Need to meet targets for a proportion 2% (v2012) up to 10% (v2022).
How? Build their own plant or buy REC(renewable energy certificate).
Penalty payments charged for any shortfalls.
Required rate, Obligatory supply rate by suppliers
vuonna
2012
2013
2014
2015
2016
2017
2018
2020
2022 %
2,0
2,5
3,0
3,5
4,0
5,0
6,0
8,0
10,0
GWh
6 420
9 210
11 579 ?
* GWh from PV
276
723
1 353
1 971 -
*requirement from Photovoltaic power (until 2015).

9. *Capacity from renewable (MW)
Obligators under RPS program v2014 Companies yli 5MW capacity (NRE plants excluded)
6 major companies (KEPCO)
yli 5GW capacity
Main power
Total capacity
(MW)
*Capacity from renewable (MW)
Korea Hydro & Nuclear Power
Nuclear and
hydropower
26 138
130
Korea South-East Power
Thermal
11 640 73
Korea Midland Power
8 434 20
Korea Western Power
8 909
135
Korea Southern Power
9 217 47
Korea East-West Power
9 139 64
8 others (public + private)
over 5MW capacity
Korea district heat corporation, Korea Water Resources corporation
Posco energy, SK E&S(14,5MW), GS EPS, GS power, MPC Yulchon , Pyeongtaek energy service
! Data from companies website !

10. Links
International Energy Agency (IEA) Photovoltaic Power Systems Programme (PVPS) National survey reports New and Renewable Energy Center, Korea Energy Management Corporation Renewable Energy Annual Report (only in korean) Renewable Energy Korea (korean) resources/selectResourcesList.do?bbsId=BBSMSTR_ Korea Energy Management Corporation Korea Electric Power Corporation