South Korea's Ambitious 2030 Goal: 20% Renewable Energy Power Generation
Synopsis
Key Takeaways
Seoul, April 6 (NationPress) South Korea is setting a goal to achieve a minimum of 20 percent of its power generation from renewable energy sources by 2030. This initiative aims to reduce the nation's significant reliance on energy imports while addressing the increasing power demands driven by the expansion of advanced industries, as announced by the Climate Ministry on Monday.
During a Cabinet meeting, the government outlined plans to boost renewable energy capacity to 100 gigawatts by 2030 to fulfill the 20 percent target, focusing on enhancing solar and wind power generation capabilities, as stated by the Ministry of Climate, Energy, and Environment.
In the previous year, renewable energy constituted 11.4 percent of the nation’s overall energy output, according to Yonhap news agency.
To achieve this goal, the government is planning to gradually phase out 60 coal-fired power plants by 2040, while simultaneously promoting renewable energy solutions.
Additionally, there will be efforts to nurture the development of green industries by investing in technologies related to solar panels, wind turbines, and battery storage systems.
Moreover, the government aims to assist major industries in transitioning to eco-friendlier practices, which includes supporting the steel industry’s ambition to commercialize hydrogen-based iron-making technology by 2037 and the petrochemical sector’s plan to electrify its naphtha cracking facilities, as noted by the ministry.
The ministry also mentioned its intention to ensure that 40 percent of new vehicle sales are electric or hydrogen-powered by 2030.
“We are committed to promptly executing our energy transition strategy to ensure that South Korea remains resilient against external pressures, such as the ongoing conflict in the Middle East,” stated Climate Minister Kim Sung-whan in a press release.