South Korea earmarks $185 million for renewable energy rebates in 2023



South Korea’s government says rebates for its building-integrated photovoltaic (BIPV) systems have increased from 13.4 percent to 15 percent, but rebates for its traditional rooftop PV systems have dropped from 50 percent to 47 percent.

MOTIE said rebates on its BIPV systems have been increased from 13.4% to 15%. However, it has reduced rebates for traditional rooftop solar systems from 50% to 47%.

About KRW 48.9 billion of the total budget is allocated to single-family and apartment buildings, while KRW 61.1 billion is allocated to commercial buildings. In addition, 140.0 billion South Korean won will be allocated to projects that combine two different renewable energy technologies.

South Korean news channel News Directory3 has reported that MOTIE has awarded the program a total budget of 319.2 billion South Korean Watts in 2022. South Korea plans to install 30.8 GW of solar power by 2030. According to the latest figures from the International Renewable Energy Agency (IRENA), it reached 20.9 GW of cumulative installed solar capacity at the end of 2022.

David is a passionate writer and researcher who specializes in solar energy. He has a strong background in engineering and environmental science, which gives him a deep understanding of the science behind solar power and its benefits. David writes about the latest developments in solar technology and provides practical advice for homeowners and businesses who are interested in switching to solar.

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