South Korea Adopts Renewable Portfolio Standard; 2 Percent Target Set for 2012

摘要

In 2012, South Korea will join a growing number of countries using a market-driven mechanism to increase renewable energy generation, under new legislation approved by the National Assembly March 18.rnThe Ministry of Knowledge Economy, which oversees the country's energy policy, said March 25 that a renewable portfolio standard (RPS) program will start in January 2012. The RPS program will replace the existing "feed-in tariff" scheme that compensates renewable electricity providers for the gap between artificial prices set by the ministry and the actual costs of renewable energy generation.