REPUBLIC OF KOREA: Renewable Portfolio Standard (RPS)

Meta Data
Draft: 
No
Revision of previous policy?: 
No
Effective Start Year: 
2012
Scope: 
National
Document Type: 
Standard
Economic Sector: 
Power
Energy Types: 
Power, Renewable, Bioenergy, Hydropower, Solar, Wind
Issued by: 
Government of the Republic of Korea
Source: 
Korean New and Renewable Energy Agency (KR)
File: 
Renewable Portfolio Standard (RPS) (KR)
Overall Summary: 
The Renewable Portfolio Standard (RPS) aims to accelerate Korea's renewable energy deployment with a goal to create a competitive market environment for the sector. RPS programme requires 13 largest power companies (with installed power capacity larger than 500 MW) to steadily increase their renewable energy mix in total power generation in period of 2012-2024.
Renewable Energy
RE action plans: 
RPS programme requires 13 largest power companies (with installed power capacity larger than 500 MW) to steadily increase their renewable energy mix in total power generation in period of 2012-2024. RPS targets will be reviewed and adjusted every 3 years. Target can be met by electricity generated from the following renewable energy sources: Wind, solar, biomass, biogas, waste-to-energy, landfill gas, tidal, hydro, integrated gasification combined cycle (IGCC).
Tradeable REC: 
Power producers involved in RPS system receive certain amount of Renewable Energy Certificates (RECs). Number of RECs allocated for produced electricity from renewable sources varies depending on the technology used.