Strategic Market Growth and Policy Recommendations for Sustainable Solar Energy Deployment in South Korea

Abstract

It is widely acknowledged that the solar energy markets have experienced increasing interest in the last decade in South Korea, due to a significant economic and ecological impact of solar energy in the coming years. Despite their great technical potential, the development and deployment of large-scale solar energy technologies in South Korea still need to overcome some technical, financial, regulatory, and institutional barriers in order to achieve a vision of the green and eco-sustainable energy. This article provides an updated comprehensive overview of the technical and economic strategies, as well as policies for the development and deployment of solar energy in South Korea. The article reviews and discusses: (1) solar energy resources and technologies, (2) economics and market status of solar energy, (3) policy support for solar energy development, and (4) obstacles to the development and implementation of solar energy technology. Policymakers are given recommendations in which the cost and impact of social, environmental, and geographical factors are considered. This review contributes towards the future of green and eco-sustainable solar energy in South Korea.