According to Bloomberg article published on April 12, 2023, South Korea is planning a massive expansion of solar panels mounted on industrial rooftops and parking lots as it seeks to overcome land constraints slowing its clean energy transition.
The Asian nation seeks to add a total of 4 gigawatts of solar power in industrial complexes in the city of Daegu and north Gyeongsang province, the energy ministry said in a statement. That would be almost quadruple the total of 1.1 gigawatts of solar power from factory areas around the country currently, according to the statement.
South Korea lacks the available land to build large-scale solar farms. The project aims to expand capacity by using idled space in massive industrial complexes. The ministry didn’t provide a timeline or cost for the planned build-out.
While solar is South Korea’s leading renewable-energy source, the nation requires at least about 400 gigawatts from solar to reach net zero, according to the Green Energy Institute. The country had about 21 gigawatts installed at the end of 2021, according to BloombergNEF.
Renewable energy is expected to account for 21.6% of total power generation by 2030, according to Korea’s latest climate policy plan, lower than a previous estimate of 30.2%.
The energy ministry said it held a meeting Wednesday with companies including Korea East-West Power Co., Korea Hydro & Nuclear Power Co., Hanwha Asset Management Co. and Hyundai Electric & Energy System Co. to discuss details of the solar plan.
