Ministry of Industry Accepts Additional Applications for 50 Billion KRW 'Renewable Energy Distribution Support'

Additional Support for Residential and Building Solar Power through the 3rd Green New Deal Supplementary Budget
Priority Support for Greenhouse Gas Reduction with 'Carbon Emission Grade 1 Solar Modules'

[Asia Economy Reporter Kim Bo-kyung] The Ministry of Trade, Industry and Energy announced on the 19th that it will accept additional applications for the 'Renewable Energy Supply Support Project' worth 50 billion KRW to promote the Green New Deal.

The Ministry of Trade, Industry and Energy has been conducting the Renewable Energy Supply Support Project since March. Among them, additional support will be provided through the third supplementary budget of the Green New Deal for support projects with excess demand, such as solar power.

The applicants are houses and buildings that install renewable energy facilities for self-consumption to reduce energy costs. The scale of this additional support is a total of 50.3 billion KRW, consisting of ▲35.8 billion KRW for housing support (32.59 billion KRW for solar power, 350 million KRW for solar thermal, 2.86 billion KRW for geothermal) and ▲14.5 billion KRW for building support (solar power).

To expand the use of low-carbon solar modules in the domestic solar power market, when using carbon emission grade 1 solar modules, government subsidies will be increased from the current 50% to about 60%. In the building support project, priority will be given to projects using grade 1 modules.

The solar power carbon certification system is a system that quantifies (CO2·kg) and verifies the total amount of greenhouse gases emitted per unit output (1 kW) throughout the entire manufacturing process of solar modules. The total greenhouse gas emissions are evaluated by summing the emissions directly generated during the solar module manufacturing process (N2O, CO2, etc.) and the carbon emissions from electricity consumption during the manufacturing process.

An official from the Ministry of Trade, Industry and Energy said, "Through this additional support, it is expected to supply 52 MW of solar power facilities, resulting in an annual electricity bill reduction of 9.3 billion KRW and a reduction of 30,000 tons of CO2 annually." He added, "It is expected to revitalize the local economy, which has been depressed due to the novel coronavirus infection (COVID-19), by securing work for the renewable energy industry."

In addition, to prepare for frequent wind and flood damage and typhoons, submission of design documents for power facilities and structural safety confirmation certificates for facilities exceeding 3 kW will be mandatory. The Ministry of Trade, Industry and Energy stated that it will ensure public safety through thorough installation confirmation and post-management after construction.

The Korea Energy Agency, the executing agency of the project, operates a consumer damage call center (1670-4260) to prevent consumer damage and impersonation of government projects related to solar power facility installation. Information about participating companies can be found on the agency's Green Home website (https://greenhome.kemco.or.kr).

Detailed information can be found on the Ministry of Trade, Industry and Energy website or the Energy Agency Renewable Energy Center website.

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