LH Builds 8 Shared Solar Power Plants on Rooftops of Purchased Rental Housing

Published 15 Nov.2023 14:32(KST)

Korea Land and Housing Corporation (LH) announced on the 15th that it has established a shared solar power plant in Daejeon by utilizing idle spaces in purchased rental housing.

The 'Shared Solar Power Plant' installed in a purchased rental housing in Daejeon. <br>[Photo by Korea Land & Housing Corporation]

The 'Shared Solar Power Plant' installed in a purchased rental housing in Daejeon.
[Photo by Korea Land & Housing Corporation]

A solar power plant generates electricity using clean solar energy. It is part of the government's eco-friendly housing innovation project aimed at achieving ‘RE50+’, which means supplying more than 50% of electricity consumption with renewable energy.

To promote the project, LH signed a business agreement last April with Shinsung E&S, Energy Transition Haeu Social Cooperative, and the Korea Energy Agency Daejeon Chungnam Regional Headquarters.

Through the agreement, LH oversees the installation support of the shared solar power plant and the residential welfare project for rental housing, while the Korea Energy Agency and Energy Transition Haeu Social Cooperative support community welfare projects by providing eco-friendly energy transition education and energy-saving products to residents and local community members.

Shinsung E&S, as the project lead organization, constructed the solar power plant and operates a virtual net metering service that allows the electricity produced to be used elsewhere.

The shared solar power plant was installed on the rooftops of eight purchased rental housing buildings located in Sintanjin-dong and Deokam-dong, Daedeok-gu, Daejeon, with a total capacity of 195kW. A total of 78 households reside in these eight buildings.

The electricity generated by the power plant is sold to Korea Electric Power Corporation, and the profits are used to reduce management fees for residents. Through this, residents can receive a minimum monthly management fee support of 5,000 KRW per household.

Starting with the Daejeon shared solar power plant, LH plans to expand various collaborations with private companies, local governments, and public institutions to develop eco-friendly housing innovation projects nationwide for purchased rental housing.

Ko Byung-wook, Head of LH’s National Housing Welfare Headquarters, said, “This project is an eco-friendly circular economy model created through public-private cooperation that not only reduces residents’ housing costs but also realizes social value through profit sharing with the local community. We will continue to actively collaborate with local communities and private companies to reduce residents’ housing cost burdens caused by increases in electricity and heating fees.”