Households can lease solar power through KemcoKorea Energy Management Corporation (Kemco) on Monday announced that five private sector consortia have decided to rent out their solar energy to private households.
The groups, which are partnerships between conglomerates and mid-size companies, are led by LG Electronics, Hanwha-Q Cell Korea, Hanbit EDS, Solar Energy and System and SEIB. The government’s initiative is aimed at increasing people’s access to solar energy, and it hopes to supply a total of 6 megawatts of electricity to up to 2,000 households by year’s end.
To use the solar power, a household must pay 70,000 won ($68) per month and sign a contract of at least seven years. Households nationwide that use at least 350 kilowatt hours of electricity per month can apply on Kemco’s website to use a solar energy panel.