South Korea to give incentives for energy storage as part of renewables spending spree

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With Asia now leading the way in solar manufacturing and development it seems that South Korea does not want to be left behind, as it outlines fresh incentives for solar plus storage and commits to large-scale renewable spending over the coming years. The Ministry of Trade, Industry and Energy made the announcements amidst Asia Power Week, which is currently taking place in South Korea’s capital Seoul.

The new storage scheme looks to encourage solar developers and large-scale operators to install storage systems alongside utility-scale solar plants by offering additional points on assessment of their renewable energy certificates. The program, which will begin in 2017, is part of the government’s efforts to support and enhance the country’s renewable energy market, specifically by developing the necessary infrastructure and support for renewable energy deployment.

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