South Korea has fast-increasing electricity demand and it has very high sun irradiation levels. South Korea had installed XX GW of PV solar energy capacity in 2014, and has since added at least XX GW of new solar capacity every year. The government has also been moving forward strongly on clean energy and has a goal to reach XX GW by 2020.
South Korea solar power market, is estimated to be USD XX billion in 2016, and is projected to grow to USD XX billion by 2021, at a CAGR of XX percent. The combination of a proven feed-in-tariff (FiT) scheme, good financing opportunities, a large availability of skilled PV companies, and good public awareness of the PV technology is attributable to the growth of the solar energy power in the South Korea .
On the flipside, high initial investment, intermittent energy source, and requirement of large installation area to setup solar farms, are restraining the market growth.
In the recent years, a lot of research has been going on in this field to make solar panel production easier, cheaper and also make them smaller, sleeker and more customer friendly. Lot of efforts are being put into increasing the efficiency of solar panels, which used to have a very meagre efficiency percentage. Different techniques like nano-crystalline solar cells, thin film processing, polymer processing and many more are expected to help the future of this industry.
South Korea solar power market report comprehensively analyses the market by segmenting it based on type into - solar photovoltaic (PV), concentrated solar power (CSP) and solar thermal. Furthermore, the report provides a segmentation of the solar power market based on these applications. Drivers, restraints and opportunities that are affecting the growth of the market are also discussed in detail. This report has key project information which includes both pipeline and upcoming projects. The study also elucidates on the competitive landscape and key market players (both domestic and international).