One Million Green Home Programme

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.

The Green House Program did not accept new applications in 2018 due to a lack of allocated budget. The administrators only paid subsidies for applications from the years 2016 and 2017 that were delayed in payment.
 
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, with an stop in funding in 2018
Expiration date  2020
Website Ministry of Knowledge Economy (www.mke.go.kr)
Last review of this tabloid December 2017
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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