Korea’s new commercial solar installations hit 3.16 GW in 2024, highest in three years

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Korea’s new commercial solar installations hit 3.16 GW in 2024, highest in three years

Solar panels installed in eastern Seoul [YONHAP]

Solar panels installed in eastern Seoul [YONHAP]

 
The total capacity of newly installed commercial solar panels in Korea reached 3.16 gigawatts in 2024, data showed Friday, exceeding the 3-GW level for the first time in three years.
 
The figure marks a 9 percent increase from the 2.9 GW installed in 2023, according to the data compiled by the Ministry of Trade, Industry and Energy.
 

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The ministry attributed the growth to the government's efforts to improve the investment environment in the sector, along with a decrease in the price of solar panel modules.
 
By region, South Jeolla Province accounted for 542 megawatts, followed by North Gyeongsang Province with 538 MW and South Chungcheong Province with 521 MW, the data showed.
 
"The government will continue its efforts to find new sites for solar panel installations, including industrial zones and parking lots," the ministry said.

Yonhap
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