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Energy Technology Perspectives 2026 Deployment of clean energy technologies, materials and fuels
Outlook Many clean energy technologies are increasingly cost-competitive and growing strongly. Their aggregate market value has grown 20% on average per year since 2015 to reach nearly USD 1.2 trillion. Some 80% of global solar PV and wind generation now occurs at lower levelised costs than for coal or gas. Battery prices have dropped 75% since 2015, pushing electric car sales to around 25% share in 2025. Deployment increases in all IEA scenarios: in the Current Policies Scenario (CPS), their global market value nearly doubles to around USD 2 trillion in 2035, greater than the oil market in…
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Clean Energy Technology Supply Chain Data Executive summary
Energy security in the Age of Electricity is inextricably linked to securing the supply chains for clean energy technologies and the equipment and materials used to manufacture them. As countries continue to pursue energy transitions and make investments in the deployment and manufacturing of these technologies – guided by industrial strategies – a detailed understanding of their supply chains has an essential role to play.The availability of good-quality, timely data is crucial to understanding clean energy technology supply chains and addressing vulnerabilities. Risks to supply chains can arise from interdependencies across technologies and between geographies, among other factors. Today, the…
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Coalition for LNG Emission Abatement towards Net-zero (CLEAN)
The Coalition for LNG Emission Abatement towards Net-zero (CLEAN) is a public-private partnership that is supported by the Japanese Ministry of Economy, Trade and Industry (METI), the Japan Organisation for Metals and Energy Security (JOGMEC) and the Korean Ministry of Trade, Industry and Resources (MOTIR) as well as the governments of the United States of America, the Republic of Korea, and Australia, and the European Commission. The supporting governments will work together to collect information on the status of methane emission management and reduction efforts from LNG producers. The data collected will be published and disseminated alongside best…
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Green Guarantee Business - Loan guarantees with estimated GHG reductions
The Ministry of Trade, Industry and Energy announced that it had signed a business agreement (MOU) to introduce the Green Guarantee business between the Korea Energy Agency and the Credit Guarantee Fund and the Technology Guarantee Fund. The business guarantees that loans for renewable energy companies are based on carbon valuation, not the existing credit or technical capability evaluation. The ratio will increase from the existing 85% up to 95%, and guarantee fees will be reduced from 1.2% to 1.0%. Companies could benefit from the interest rate cut by from 0.9% to 2.83% on average. The…
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2023 Tax Revision Bill
The 2023 Tax Revision Bill, that has been signed into law, reintroduced tax credits for investments in overseas resource development. The measure seeks to improve Korea's capabilities to address supply chain issues by providing enhanced fiscal and tax support for obtaining overseas resources, such as core minerals. Eligible investments include acquisition of mining rights, investments in foreign corporations, and direct overseas investments by domestic individuals. The tax credits would apply from 1 January 2024 until 31 December 2026.
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Feasibility assessment of hydrogen hub in Port of Newcastle
ARENA is funding the feasibility study of a 40 MW hydrogen hub in Port of Newcastle (New South Wales), contributing with AUD 1.5 million. Port of Newcastle’s existing export routes to Japan and Korea represent potential renewable hydrogen export markets in the future
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Vehicle Energy Efficiency Labeling and Stadnad
The program promotes energy conservation by improving vehicle fuel efficiency. The program discloses fuel efficiency ratings of cars in order to help consumers to buy high-efficient cars. Korea Energy Agency (KEA) standardizes vehicle fuel efficiency test methods, develop criteria for fuel efficiency rating, work with vehicle manufacturers and importers, conduct follow-up measures for this program and disclose vehicle-related information for consumers. Passenger cars with a total weight less than 3.5ton (passenger cars, light-weight trucks, all purpose cars and others), vans with capacity of 15 passengers (including van trucks) and light-duty trucks other than special…
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Bill on Carbon Dioxide Capture, Transportation, Storage, and Utilization
The bill mentions funding for research and development, infrastructure investments, and regulatory frameworks to facilitate the implementation and expansion of CCUS technologies in Korea.
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The strategy for securing reliable critical minerals supply
…supply chain centered around the Ministry of Trade, Industry and Energy (MOTIE). The plan aims to mitigate Korea's reliance on imports from a select few countries for lithium, cobalt, graphite, and other critical minerals from the current 80% to 50% by 2030. It is set to maximize utilization of domestic mineral resources as well as contribute to supply chain stabilization as Korea envisions growing into a high-tech industrial powerhouse.Key strategies to secure reliable supply of critical minerals are as follows:1. Select 33 critical minerals and 10 strategic critical minerals. The former will be under management to…
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The National Program for Metal (Nonferrous and Rare) Stockpiling
The National Program for Metal Stockpiling has been established to support the stable growth of the domestic industry and respond promptly to global supply chain crisis as part of a comprehensive strategy for non-ferrous metals managed by the PPS (Public Procurement Service) and rare metals by KOMIR (Korea Mine Rehabilitation and Mineral Resources Corporation). It has been prepared as the main strategy to expand stockpiling bases that can enhance national resource security.The three key objectives are:1. Expanding stockpiling of non-ferrous metals to 60 days from the previous 50 days supply and rare metals to 100 days…