This Year’s Renewable Energy Distribution Support Up 17.3% YoY... Solar Modules Subject to 'Minimum Efficiency System and Carbon Certification System'

Ministry of Industry Invests 228.2 Billion KRW in 2020 Distribution Support
Priority Given to Applications from Multi-Use Facilities Such as Welfare Centers... "Enhancing Public Awareness"
Housing and Building Solar Subsidies Increased from 30% to 50%

The 'Multi-stage Vertical Solar Module Ladder' installed at a private residence in Paju-si, Gyeonggi-do. (Photo by Asia Economy DB)

[Asia Economy Reporter Moon Chaeseok] The government announced that it will spend 228.2 billion KRW this year on renewable energy distribution support, which is 17.3% more than the previous year. The 'minimum efficiency standard' will be applied to the project to phase out solar modules with energy efficiency below 17.5% from the domestic market, thereby improving energy efficiency. When the 'carbon certification system,' which quantifies and manages the total greenhouse gas emissions generated during the manufacturing process of solar modules, is implemented in July, related products will receive preferential support.

On the 19th, the Ministry of Trade, Industry and Energy announced that it will open the support project for applications on the 20th. This project is a policy that subsidizes installation costs when renewable energy facilities such as solar power and solar heat are installed in houses for self-consumption, encouraging energy cost reduction. The goal is to increase support mainly for facilities with high public accessibility to enhance the eco-friendly experience and achieve both 'high efficiency and eco-friendliness.'

First, support for multi-use facilities (welfare facilities, community centers, sports facilities) will be expanded. Happy Housing will be added to the public rental housing support targets, and fuel cells will be added to the equipment support targets.

The minimum efficiency standard for solar modules will be applied to the support project to improve the utilization efficiency of idle spaces such as building rooftops. A Ministry of Trade, Industry and Energy official explained, "Applying the minimum efficiency standard to the support project will allow high efficiency with a small area, thereby increasing solar energy output."

From July, when the carbon certification system is implemented, products with low carbon emissions will receive preferential support to promote the expansion of 'eco-friendly' solar products. Previously, on the 27th of last month, the Ministry signed a business agreement with the Korea Photovoltaic Industry Association and the Korea Energy Agency for pre-verification of carbon emissions.

To reduce the burden of solar power installation costs for the public, the solar subsidy for housing and building support projects will be raised from the current 30% to about 50%. The funds were prepared from this year's budget of the Ministry of Trade, Industry and Energy. The ministry explained that the reason for increasing the subsidy is to prepare for a possible contraction in demand due to the novel coronavirus infection (COVID-19).

A Ministry official said, "The significance of this policy is to increase support to expand the distribution of high-efficiency and eco-friendly renewable energy products," adding, "We will preferentially support multi-use facilities so that more citizens can receive support related to renewable energy."

This content was produced with the assistance of AI translation services.