Greentech Lead
Summary
South Korea’s plan to expand renewable energy capacity to 100 GW by 2030 could reduce the country’s annual fossil fuel power bill by nearly half, lowering costs to approximately $13 billion, according to new research from Ember and Global Energy Monitor (GEM).
The renewable energy strategy is closely linked to South Korea’s broader decarbonization agenda. The country aims to significantly reduce coal-fired power generation by 2040 while electrifying sectors such as heating, which currently accounts for around 48 percent of final energy consumption. Policymakers are promoting electric heat pumps and renewable district heating systems as alternatives to conventional gas-based heating.
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