Policy status:In Force
Date Effective:2004
Date Ended:2020
Policy Type:Economic Instruments>Fiscal/financial incentives>Grants and subsidies
Renewable Energy Policy Targets:Bioenergy, Biofuels for transport, Geothermal, Power, Ocean, Tidal, Solar, Solar photovoltaic, Solar Thermal, Wind
Policy Sector:Electricity, Heating and Cooling
Size of Plant Targeted:Small and Large
Agency:Ministry of Trade, Industry & Energy(MOTIE), Korea Energy Management Corporation(KEMCO)
Funding:public budget: 96.2 bil won (80 million USD) in 2010
Renewable Energy Description:

In an effort to encourage NRE deployment, the government initiated a programme called "1 million green homes program". The official name has been changed in 2013 to "Home subsidy program". The programme encourages installation of new and renewable energy installations in residential areas such as private houses, multi-family houses and public rental houses.

The programme encourages investment by subsidizing certain amount of installation costs. The programme supports installation of PV systems as well as solar thermal, geo-thermal, and small wind plants.

Last modified: Tue, 22 Aug 2017 16:52:50 CEST