Renewables shift to ensure sustainable delivery of energy

[Photo by MK DB]

South Korea‘s government announced a revamp of its renewable energy policy as part of its response to the climate crisis. The overhaul focuses on building up a government-led offshore wind supply chain while seeking a more balanced and sustainable expansion of solar power generation and marks a significant pivot, particularly as the global demand for renewable energy surges.

At the 28th Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC) that took place in 2023, more than 100 countries in Dubai agreed to triple renewable energy capacity by 2030. Alongside this declaration, a growing number of global companies are joining Climate Group’s global initiative RE100, which has led to louder calls for government action among Korean corporations.

Although developed countries have ramped up solar and onshore wind power generation to the extent that the unit cost of electricity generation now rivals fossil fuel sources, Korea is trailing behind. The country’s renewable energy generation is at a mere 9 percent, which is much lower than the global average of 30 percent. Solar power dominated last year’s renewable energy installations, with wind power experiencing marginal growth.

In this sense, the government‘s recent decision to pivot towards offshore wind power is a welcome step toward charting a course. But every policy initiative must be underpinned by transparency, accountability, and strategic planning to navigate the transition towards a more sustainable energy system. As Korea moves towards a greener future, it must learn from past mistakes and create a path characterized by integrity, efficiency, and equitable access to renewable energy resources.