- Monetization of vacant and idle land in rural areas
- High profitability through business with Korea Electric Power Corporation, Korea Energy Agency, and Korea Power Exchange
Revenue structure of the photovoltaic power generation business
SMP (System Marginal Price)
The power market price applied to the power quantity of a general power generator according to each trading time (KRW/kWh)
REC (Renewable Energy Certificate)
The trading unit of the supply certificate issued by the Korea Energy Agency, calculated by converting the renewable energy generation (kWh) to MWh and then multiplying by the weight
Application criteria for REC weight, an example of Korea
| Installation type | Detailed criteria | Weight (2021.10) |
|---|---|---|
| Normal land | Less than 100kW | 1.2 |
| 3MW or less | 1.0 | |
| More than 3MW | 0.8 | |
| Using existing facilities including buildings | Less than 100kW | 1.5 |
| 3MW or less | ||
| More than 3MW | 1.0 | |
| Floating photovoltaic | Less than 100kW | 1.6 |
| 3MW or less | 1.4 | |
| More than 3MW | 1.2 | |
| Forest | Unlimited capacity | 0.5 |
| Private (surplus power) | Only fully self funded facilities are used (not for distribution support projects) - Surplus power of distribution support project facilities can only be offset by KEPCO |
1.0 |
| ESS facilities (with photovoltaic) | By the end of June, 2020 | - |
| July – December, 2020 | - |
Electricity [generation] business license procedure, an example of Korea
Construction examples
2,000KW photovoltaic power plant in Bondang-ri, commercial power generation started in Jun 2019
1,300KW photovoltaic power plant in Boksan-ri, commercial power generation started in January 2019
925Kw photovoltaic in Hwadong-ri, Yeosu-si, commercial power generation started in August 2020
700KW photovoltaic in Imok-ri, Yeosu-si, commercial power generation started in December 2020