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Gyeongnam Province, Major Expansion of Solar Power Distribution for Industrial Complexes
On the 8th, Gyeongsangnam-do held a 'Solar Power Distribution Briefing by Region for Industrial Complexes' at the Hapcheon Cultural Arts Center aimed at the western region. This event was organized to respond to the RE100 (100% Renewable Energy) requirements demanded by global companies, enhance the competitiveness of local export companies, and reduce electricity cost burdens.
Gyeongnam Province is actively guiding the expansion of solar power distribution policies led by the public sector by utilizing idle land within industrial complexes and encouraging corporate participation. These efforts will be an important step towards revitalizing the local economy and promoting sustainable energy use.
Main Contents of the Briefing
This briefing addressed several topics. Government support projects, solar profit models, and the solar power policies of Korea Southern Power were introduced, including promotions from local solar specialized companies in Gyeongnam. To aid the understanding of the participating corporate representatives, time was also allocated for Q&A and personal consultations.
In particular, specific explanations were provided regarding the profitability of solar power generation, the methods of electricity production, and cooperative models between public and private sectors. With industrial electricity rates rising by about 50% over the past three years, corporate interest has increased significantly, with over 50 business personnel and representatives attending the event, demonstrating high participation rates.
Expansion of Government and Local Government Support
The government plans to invest 4.2 trillion won in the 2026 budget for the 'RE100 industrial complex establishment and next-generation power grid construction'. This amount represents an increase of about 50% compared to the previous year, demonstrating the government's commitment to financial support.
Gyeongsangnam-do possesses the most solar power facilities in the country and is actively strengthening its support. As of June last year, the solar power capacity installed in industrial complexes in the province reached 271 MW.
In addition, regulations on solar power installation have been eased to allow installations in various spaces such as factory roofs, warehouse rooftops, and parking lots. Companies now have opportunities to reduce initial cost burdens through financial support like subsidies and loans, as well as REC (Renewable Energy Certificate) weight benefits.
Expected Effects of Solar Power Installation
The effect of electricity cost savings amounts to approximately 27 million won annually based on a 150 kW system. This can provide significant financial assistance to companies. Additionally, by appropriately responding to the EU's Carbon Border Adjustment Mechanism (CBAM) and RE100 requirements, it becomes an opportunity to enhance export competitiveness.
By practicing ESG management, companies can reduce greenhouse gases and strengthen their image as eco-friendly enterprises. Moreover, expanding distributed generation is also crucial for realizing regional power stabilization and energy independence.
Ultimately, companies need to move towards achieving two goals simultaneously: cost reduction and sustainable eco-friendly management, as well as maintaining the global supply chain.
Future Schedule and Outlook
On the 11th, a briefing for the eastern region will be held at the Gimhae Small Business Center. Gyeongsangnam-do is requesting businesses participating in this event to show active interest and participation in the solar power project for industrial complexes.
This is an important time as government and local government support will be focused over the next 2-3 years, and it is crucial for companies to prepare to participate in solar power projects quickly. Through this, Gyeongsangnam-do is expected to develop into a leading region for achieving RE100 in industrial complexes and transitioning to eco-friendly energy.
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Frequently Asked Questions (FAQ)
Q. Why is Gyeongsangnam-do expanding solar power distribution for industrial complexes?
Gyeongsangnam-do is expanding solar power distribution for industrial complexes to respond to RE100 and alleviate the electricity cost burden on businesses.
Gyeongsangnam-do is promoting policies to expand solar power distribution by utilizing idle land within industrial complexes in response to global companies' RE100 (100% Renewable Energy) requirements, thereby reducing electricity cost burdens for businesses and contributing to revitalizing the local economy and sustainable energy use.
Q. What were the main topics addressed during the industrial complex solar power briefing?
Government support projects, solar profit models, Korea Southern Power policies, and company Q&A were discussed.
The briefing introduced government solar support projects, profit models for solar power in industrial complexes, and the policies of Korea Southern Power, including promotions from local solar specialized companies in Gyeongsangnam-do. Specific Q&A and personal consultation times were also provided to aid attendees' understanding regarding profitability, electricity production methods, and public-private cooperation models.
Q. What support is being expanded by the government and local governments for solar power installation?
The government is planning to invest 4.2 trillion won and relax regulations, while Gyeongsangnam-do is strengthening its support for solar power expansion.
The government has allocated 4.2 trillion won in the 2026 budget for establishing RE100 industrial complexes and constructing power grids, which is about a 50% increase from the previous year. Gyeongsangnam-do, as the region with the largest solar power installations in the country, is also increasing its support this year. Additionally, easing regulations for installations in multi-purpose spaces such as factory roofs, warehouse rooftops, and parking lots, as well as financial support through subsidies, loans, and REC weight benefits will reduce initial costs.
Q. What are the expected benefits for companies from solar power installation?
Annual savings of approximately 27 million won in electricity costs and enhanced ESG and export competitiveness.
Based on a 150 kW solar setup, annual electricity cost savings of approximately 27 million won can be achieved. Furthermore, by responding to the EU's Carbon Border Adjustment Mechanism (CBAM) and RE100 requirements, companies can enhance their export competitiveness. Companies can pursue both cost reduction and sustainable management while contributing to local energy stability and independence by strengthening their eco-friendly ESG management and reducing greenhouse gas emissions.
Q. What are the future schedule and outlook for the Gyeongsangnam-do industrial complex solar power briefing?
A briefing for the eastern region is scheduled for the 11th, and an expansion of support is expected over the next 2-3 years.
A briefing for the eastern region is planned to be held at the Gimhae Small Business Center on the 11th. Gyeongsangnam-do is encouraging active participation in the project by businesses, and it is anticipated that focused support from the government and local governments will continue over the next 2-3 years. This is expected to position Gyeongsangnam-do as a leading region for achieving RE100 in industrial complexes and transitioning to eco-friendly energy.
