Cost of solar power generation to drop to below 100 won by 2023
The average total costs of generating solar energy in South Korea will go down below 100 won ($0.1) per 1 kilowatt hour five years later, a parliamentary report said Sunday. According to the report, the…
From the Energy Metal News archive. This article dates from Dec 23, 2018 and is preserved as first published.
The average total costs of generating solar energy in South Korea will go down below 100 won ($0.1) per 1 kilowatt hour five years later, a parliamentary report said Sunday.
According to the report, the levelized cost of energy of solar power will decline to below 100 won per 1 kWh in 2023 and 84 won in 2030.
According to the report, the levelized cost of energy of solar power will decline to below 100 won per 1 kWh in 2023 and 84 won in 2030.
LCOE refers to an average total cost to build and operate a power generator over its lifetime.
It was 1,144 won per 1 kWh in 2005 and dropped to 171 won in 2014. In 2018, the LCOE of solar power reached 121 won per 1 KWh.
The report said the United States and Great Britain are both expected to break the 100 won LCOE line in 2020.
The government of President Moon Jae-in aims to increase the use of renewable energy, including solar and wind power, to about 20 percent of total power consumption by 2030.
