Gwangju Buk-gu to Invest Over 1.7 Billion Won in Budget for Next Year's Renewable Energy Expansion

Buk-gu, Gwangju Metropolitan City will continue to promote the spread of renewable energy next year by investing a total project budget of about 1.7 billion KRW, including national and local funds, to support the government's realization of carbon neutrality by 2050.

According to Buk-gu on the 29th, Buk-gu was selected in the '2024 Renewable Energy Convergence Support Project' contest hosted by the Ministry of Trade, Industry and Energy, securing about 1.3 billion KRW in national and city funds.

The Renewable Energy Convergence Support Project is a program in which the government supports part of the installation costs of two or more types of renewable energy such as solar power, solar heat, and fuel cells for houses and commercial buildings to improve residents' energy welfare and increase the energy self-sufficiency of buildings.

Accordingly, Buk-gu formed a consortium with five energy-related companies from February to June over five months and thoroughly prepared for the pre-contest by actively identifying residents wishing to install renewable energy source facilities. As a result, the project’s feasibility was recognized in the comprehensive evaluation by the Korea Energy Agency, and Buk-gu was finally selected as a support target, enjoying the joy of being selected for the contest for the fourth consecutive year.

The national and city funds secured through this contest selection, combined with about 400 million KRW in matching funds from the district, will be invested next year to cover installation costs of renewable energy source convergence facilities for a total of 236 buildings in eight neighborhoods: Jungheung 1, 2, 3-dong, Jungang-dong, Im-dong, Sinan-dong, Usan-dong, and Pungyang-dong.

Buk-gu expects that through this project, not only will building energy costs be reduced, but the practice of a carbon-neutral energy self-sufficient city will widely spread at the village level.

A Buk-gu official said, "This contest selection is another achievement demonstrating our Buk-gu’s commitment to carbon neutrality, following the selection as a demonstration site for the Advanced Industrial Complex RE100 full-cycle process support technology development last November," adding, "Since renewable energy is an essential element to overcome the climate crisis and advance the global common goal of carbon neutrality, we will continue to devise various methods to expand the distribution of renewable energy in the region."

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