South Korea Renewables Q2 2020
The South Korean government remains committed to phase out coal and nuclear in preference for cleaner sources,which will generate growth opportunities for the non-hydro renewables sector. We forecast relatively strong growth rates, with non-hydro renewables capacity more than doubling between 2019 and 2029 to reach 28.2GW, made up predominantly by solar andwind power. Despite strong capacity growth, we believe that non-hydro renewables will only account for 9.1% of the total electricitymix by 2029, which is below the government’s targets, due to the robust pipeline of nuclear and gas power facilities. Strongopposition toward President Moon's nuclear phase-out policy could also undermine the government's renewables agenda.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook