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In the first seven months of this year, the country's exports of solar modules and related photovoltaic kits soared 46.
7% year-on-year to $2.
01 billion
, according to the latest data released by South Korea's Ministry of Trade, Industry and Energy (MOTIE).
Exports of energy storage systems also jumped 87% to $163 million
.
With South Korea's overall export value already declining for 19 consecutive months, these export growth figures are undoubtedly surprising
.
In July, MOTIE announced plans to invest 42 trillion won to add 13 GW of renewable energy capacity by 2020, of which 4.
5 trillion won will be used for energy storage solutions
.
MOTIE also said it would raise its Renewable Portfolio Standard (RPS) to 5% in 2018 and 7%
in 2020.
According to the International Renewable Energy Agency (IRENA), South Korea's total installed solar capacity was about 3.
17 GW
by the end of 2015.
In the first seven months of this year, the country's exports of solar modules and related photovoltaic kits soared 46.
7% year-on-year to $2.
01 billion
, according to the latest data released by South Korea's Ministry of Trade, Industry and Energy (MOTIE).
Exports of energy storage systems also jumped 87% to $163 million
.
With South Korea's overall export value already declining for 19 consecutive months, these export growth figures are undoubtedly surprising
.
In July, MOTIE announced plans to invest 42 trillion won to add 13 GW of renewable energy capacity by 2020, of which 4.
5 trillion won will be used for energy storage solutions
.
MOTIE also said it would raise its Renewable Portfolio Standard (RPS) to 5% in 2018 and 7%
in 2020.
According to the International Renewable Energy Agency (IRENA), South Korea's total installed solar capacity was about 3.
17 GW
by the end of 2015.
