Gyeonggi-do Provides Up to 500 Million KRW Support for Energy Self-Sufficiency Facility Installation Costs
Gyeonggi Province will provide up to 500 million KRW to activate creative and diverse distributed energy new businesses led by companies.
On the 14th, Gyeonggi Province announced that it will recruit institutions and corporations to participate in the ‘2024 Gyeonggi RE100 Leading Project,’ which aims to discover and foster high value-added distributed energy industry business models by utilizing renewable energy, energy storage systems (ESS), electric vehicle charging facilities, etc., through public-private cooperation for carbon neutrality practice by residents, from the 22nd to the 26th of next month.
Distributed energy is a concept contrasting with centralized energy produced by large-scale power plants, referring to a method where energy produced locally through small to medium-scale renewable energy, self-generation, ESS, and demand resources is consumed in nearby areas.
Gyeonggi Province focuses on establishing a demonstration base for leading technologies utilizing renewable energy resources to foster future new growth industries in the distributed energy era. It promotes convergent business models using ICT with renewable energy power generation facilities, energy storage systems, electric vehicle charging facilities, and next-generation solar power generation business models such as solar soundproof walls and BIPV (Building-Integrated Photovoltaics).
This year, Gyeonggi Province will invest a total of 1.8 billion KRW, and provincial funds can support up to 50% of the project cost.
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Kim Yeon-ji, Director of the Energy Industry Division of Gyeonggi Province, said, "Globally, the competition to secure new distributed energy technologies using renewable energy and electric vehicle charging and discharging is fierce," adding, "Through Gyeonggi RE100, Gyeonggi Province will take the lead in discovering pioneering models that drive new distributed energy technologies."
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