Korean solar energy (PV) market report
Overview
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The Korean solar energy market has experienced a period of cooling down, and is now longing for new incentives. In 2008, Korea came 4th in the list of installed PV capacity according to EPIA statistics. This position was achieved thanks to a favorable feed-in tariff system with a cap of 500MW in 2008. In 2008, the Korean government changed its successful feed-in tariff system. As a result of this change, the recently ignited Korean PV market is likely to shrink over the next three to four years compared with the success in 2008. The forecast market size in 2009 is around 98 MWp, increasing to 132 by 2010. Further growth to more than 160 MWp is foreseen for 2011. The new policy and financial support schemes, however, are also creating new business opportunities for the future. These are a few of the findings of a PV market report published in September 2009 by Solarplaza.
Solarplaza and Kyung Nam Kim, solar PV expert and consultant, published the report.
