South Korea's solar shipments spike in January-June period

Shipments of energy storage systems to foreign markets also jumped 87% on the year to $163m over the same period, the Ministry of Trade, Industry and Energy (MOTIE) said in an online statement.

The figures come as a surprise, given that the country’s total, overall exports — including products not related to renewable energy — had been on a protracted slide for 19 straight months until bouncing back in August.

In July, the MOTIE announced plans to invest 42 trillion won in 13GW of new renewable energy capacity by 2020, including 4.5 trillion won to support installations of energy storage solutions.

The ministry also said it would raise its renewable portfolio standard (RPS) by 0.5% to 5% for 2018, and to 7% by 2020, from an initial target of 6%.

South Korea’s total installed solar capacity reached roughly 3.17GW at the end of 2015, according to the International Renewable Energy Agency (IRENA).?