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One Million Green Home Programme

Submitted by Baerbel Epp on September 12, 2009

The so called “1 Million Green Home Project” in Korea supports a big range of renewable energy technologies: solar thermal, photovoltaics, geothermal, biomass or small wind energy. The aim until 2020 is to create a million homes that use one of these technologies. Each year, the government will set the new budget for the next one.

 

Country / region

South Korea

Name of programme

1 Million Green Home Project

Type of incentive

Subsidy

Eligible technologies

Solar thermal, PV, geothermal, biomass and small wind

Applicable sectors

Residential sector (home owners need to be on a residential list)

Amount

930,000 KRW/m2 (715 USD/m2)

Maximum incentive

50 % of the investment cost of a solar thermal system

Requirements for system

Collector certification has to comply with requirements set forth by the government

Requirements for installation

The installer has to be certified by the Korean Energy Management Corporation (KEMCO).

Finance provider

Korean New and Renewable Energy Center (KNREC) www.knrec.or.kr

Total funds

 

KRW 94.3 billion ( USD 72 million) for all five technologies in 2009:

KRW 33.3 billion (USD 25 million) for solar thermal, geothermal


KRW 59 billion (USD 45 million) for photovoltaics


(exchange rate: 1 USD / 1,300 KRW)

The total budget will be set new each year.

Funding source

Public money

Effective date

1 January 2009

Expiration date

 

2020

Website

Ministry of Knowledge Economy (www.mke.go.kr)

Last review of this tabloid

August 2009

Contact

Koran Energy Management Corporation

phone : +82/31/260-4114

Yongin City, Gyeonggi-Do,
South Korea

kemco@kemco.or.kr

www.kemco.or.kr

 

 

 

 

Effective Date: 
January 1, 2009
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