South Korea: Assessing Policy to Support Cost-effective Outcomes
The Republic of South Korea adopted an RES to support 10% renewable energy generation by 2020. In partnership with the Clean Energy Solutions Center, the Korea Electric Power Corporation (KEPCO) assessed actions to successfully meet and exceed the renewable energy requirements associated with the country’s recently implemented national RES. Key design elements of the RES include differentiation of targets by technology, including a solar set-aside, and establishment of a robust REC system and non-compliance mechanism. The assessment focused on actions to meet the standard’s percentage requirements overall (10% renewable electricity by 2020), as well as a mandate to produce a set percentage of renewable electricity within the country. Ultimately, the partnership and assessment sought to support cost-effective achievement of the RES for both the utility and its customers. For more information, see Assistance Focus: Asia/Pacific Region.