South Korea Stabilizes Renewable Energy Prices, Contracts Extended to 20 Years

摘要

South Korea is boosting its green-energy incentives for consumers and businesses with higher subsidies for homes and more stable sale prices for renewable energy producers. Taking effect next year, the measures will help eliminate risks for renewable energy providers through longer-term fixed price contracts, improve the energy bidding atmosphere and qualify more businesses to sell their power, the government said in an announcement. South Korea hopes the efforts, which are based on existing laws, will increase investment so it can restart 3 trillion won ($2.6 billion) worth of energy projects and attract big businesses like Samsung SDI and Posco Energy to join the green grid. It aims to shift the country's energy paradigm from 4.5 percent renewable resources in 2015 to 11 percent by 2025.