Korean Photovoltaic Market Analysis
In Asia, market experts expect that major growth stimuli are expected to be provided in particular by the South Korean market with its expected newly installed output of 50 to 75MW. All of these rapid increase is due to its strongest solar incentive program worldwide with a feed in tariff of more than 0.7USD/kWh over a 15 year period for installation above 30Kw. South Korea has set impressive targets for PV installations with a goal of 1.3GW of installed capacity by 2011.This growth plan will rank South Korea among the world’s leading countries for PV installations.
In a word, the reason why the Korean market is so lucrative and promising is concluded as follows:
- Firstly, it’s sound and solid incentive policy, and is among the countries with strongest incentive policies.
- Secondly, the domestic industry is not so large, there are two poly makers, DCC and KCC, two wafer and ingot players, they are LG Siltron and Semi Material, two Cell makers, they are KPE and SHINSUNG, 10 module makers, Symphony, S-Energy, KPE, ETA SOLAR, LG, Hyundai, Hae Sung Solar, KD Solar, Mirinet Solar and Samsung SDI! Totally, there are 16 photovoltaic industrial players.
- Thirdly, the governmental plan for the installation is so magnificent.
Therefore, the Korean market is a very absorbing system installation market
South Korea is still a relatively small on-grid market; however aggressive targets have been set for PV installations going forward. The goal of South Korea is to reach 1.3 GWp of installed capacity by the end of 2011, up from today’s installed base of no more than 25 MWp. If it reaches this goal South Korea would be among the world’s leading countries for PV installations. This goal has been supported by very attractive incentives. The feed-in tariff established in South Korea is about 0.7 USD/kWh and in addition installation costs may in some cases be subsidized. And also the domestic market is not so large compared with other PV markets, these incentives and goals make South Korea, perhaps, the most attractive installation market for PV projects going forward, with high growth expected.
Contents
I. BACKGROUND MARKET INFORMATION
II. LONG TERM GOVERNMENTAL PLAN FOR PHOTOVOLTAIC INDUSTRY
Figure I. Comparison of Energy Targets among 46 Countries
Figure II. Korean Photovoltaic Investment Subsidy and Feed In Tariff
Figure III. Comparison of Subsidy in Some Major Markets
Figure IV. Comparison of Korean Market Share in The Global Photovoltaic Market
III. PREVIOUS AND CURRENT DEVELOPMENT OF THE KOREAN DOMESTIC PV INDUSTRY
Figure V. Current Status of Korean Photovoltaic Module Industry
IV. CONCLUSION
V. SUGGESTIONS
COMPANIES MENTIONED
Hyundai Heavy Industry
Kyungdong Solar
Symphony Energy
Young Dong Techwin
Etasolar Co., Ltd.
S-energy
LG
Millinet Solar Co., Ltd.
ETC
LS Industries
Samsung SDI
KPE
Kyungdong Solar
Shinsung
Daesan ENC
Millinet
HyundaiHeavy Industries
SMART APPLICATIONS CO., LTD.
NeosemiTech Corporation
Osung LST
Woongjin Energy
NEXOLON
DCC (DC Chemical)
KCC