At the end of 2017, the Ministry of Trade, Industry, and Energy (MOTIE) announced the “Renewable Energy 2030 Implementation Plan,” which states the national renewable energy target, and its implementation plans towards 2030. The national objective is 20% renewable energy generation of the national electricity demand by 2030.
According to that plan, a 63.8 GW renewable capacity is required to meet the target of 20% of national electricity demand, by 2030. Among various renewable energy sources, PV and wind will lead the capacity. PV accounts for 36.5 GW (57%) and wind for 17.7 GW (28%) capacity by 2030.
The Renewable energy Portfolio Standards (RPS) is the main policy to support wind energy development, which is basically a technology-neutral, market-based system. In the RPS system, there are multiplying factors to adjust the amount of renewable electricity generated from each technology, which varies from 0.25 to 3.8 (excluding ESS applications). For onshore wind, the factor is from 1.0 to 1.3 depending on the type of project (e.g., how many local communities were involved in the project). Among various renewable energy sources, offshore wind has the biggest factor, from 2.0 to 3.8, which means that the government strongly drives the deployment of offshore wind within the country. It is expected that the country is going to deploy about 12 GW of new offshore wind capacity by 2030.