Korea PV market expected to reach 200MW by 2012

SEOUL, KOREA & SAN JOSE, USA: Displaybank, a global authority in market research and consulting for the solar and display industries, announced that Korea PV installment is expected to reach 200MW by 2012.

According to the presentation material for "2009 Korea Green Energy Show PV Conference" that Kenny Kim, Executive Vice President, Displaybank (Solar & Energy division) on October 15, recently announced by Korea's Ministry of Knowledge Economy with "PV Market Creation Plan" would allow Korean PV installment market to increase to 200MW by 2012.

Korea PV Installment Forecast (Unit: MW)(Source: Korea's Ministry of Knowledge Economy Renewable Energy Sector, Displaybank, Sept.2009)

Korean PV MarketSource: DisplayBank

According to Kim referencing to the presentation material, Korean government recently acknowledged its domestic PV market and industry's risks and announced Renewable Portfolio Standard (RPS) on July 2009 in order to expand new PV market with securing domestic PV industry and further proclaimed details of PV creation plan to move forward in September.

Looking at the Korean government's proclaimed plan in detail, six power generation subsidiaries of KEPCO (Korea Electric Power Corp.) within the second RPA agreement are planned to supply 101.3MW in PV installment by investing KRW 338.2 billion during three year periods in order to newly create PV market.

At this time, 51.5MW will be constructed by the power generation subsidiaries of KEPCO and 49.8MW is planned to be purchased from individual PV businesses. In other word, these six power generation subsidiaries of KEPCO are planned to supply 101.3MW divided in 21MW for 2009, 32MW for 2010 and 49.8MW for 2011 for three years through the RPS model business.

For three years, from 2009 to 2011, 101.3MW market will be created from PV makers' perspective and 49.8MW market creation from individual PV business perspective. The Renewable Portfolio Standard (RPS) policy that is likely to be implemented from 2012 is known to be considering increasing suggested 80~100MW in capacity requirements at the public hearing in June to 100~150MW in capacity requirements.

Korea PV Installment Composition Forecast (Unit: MW)(Source: Korea's Ministry of Knowledge Economy Renewable Energy Sector, Displaybank, Sept.2009)

Considering these PV creation plan from the government, Korea PV market would see an increase of over 30 percent from pre-RPS Model Business to grow to 98MW in 2009, 132MW in 2010 and 200MW by 2012, according to Displaybank.

Kim notes, "RPS policy would allot additional 100~150MW as requirements in 2012 for PV that is planned to be gradually increased each year afterwards and Green House installment business is expected to aggressively expanded such that Korea PV market is anticipated to see continuous growth".

Displaybank will be hosting "2009 Korea Green Energy Show PV Conference" on October 15 at COEX in Seoul, Korea. The PV conference on October 15 will be the place to discuss future Korea PV market through presentations from Korea's Ministry of Knowledge Economy Renewable Energy Sector and Displaybank.