OES Annual Report 2012 - Ocean Energy Systems
OES Annual Report 2012 - Ocean Energy Systems
OES Annual Report 2012 - Ocean Energy Systems
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92<br />
REPUBLIC OF KOREA<br />
Keyyong Hong<br />
Korea <strong>Ocean</strong> Research and Development Institute<br />
INTRODUCTION<br />
The budget and number of projects for ocean energy RD&D (Research, Development and Demonstration)<br />
continued to grow in Korea in <strong>2012</strong>. They are mainly funded by Government programmes led by MLTM<br />
(Ministry of Land, Transport and Maritime Affairs) and MKE (Ministry of Knowledge) but the involvement<br />
from private sectors has also increased particularly in the tidal current device development. The renewable<br />
energy policy of RPS (Renewable Portfolio Standard), which applies a different REC (Renewable <strong>Energy</strong><br />
Certificate) value to each renewable energy source, has been enacted in Korea since <strong>2012</strong>. The Sihwa tidal<br />
barrage and Uldolmok tidal current power plants are being operated continuously though more ocean<br />
energy plants were installed and tested in Korean coastal waters in <strong>2012</strong>. The Sihwa power plant is still in<br />
controlled operation and has produced 396,210 MWh from 1 August 2011 to 30 September <strong>2012</strong>. About<br />
553,000 MWh annual production is expected as it begins full operation.<br />
OCEAN ENERGY POLICY<br />
Strategy and National Targets<br />
The strategic plan for ocean energy development in Korea is based on “The 3rd National Plan for Technology<br />
Development, Use and Diffusion of New and Renewable <strong>Energy</strong>”, in which the national vision, long-term<br />
goal, strategy and action plan for new and renewable energy development for the period of 2009~2030<br />
have been established. It has also proposed an establishment of laws and regulations for the efficient<br />
enforcement of the strategic plan. The action plan for ocean energy development is divided into 3 phases.<br />
In the first phase, until <strong>2012</strong>, ocean energy RD&D is mainly funded by the Government and it focuses on<br />
the development of core technologies that are suitable to coastal area. In the second phase, from 2013<br />
to 2020, the role of industries will gradually increase in both funding and RD&D and the technologies that<br />
are applicable in open sea will be exploited. In the third phase, from 2021 to 2030, the industries will lead<br />
commercial development for ocean energy resources and the hybrid utilisation of technologies combining<br />
multiple ocean energy resources will be activated.<br />
Korea targets to supply 11% of national energy demand from new and renewable energy by 2030, and the ocean<br />
energy contributes with 4.7% to the total new and renewable energy supply, which amounts to 1,540kTOE.<br />
Support Initiatives and Market Stimulation Incentives<br />
The RPS policy as a primary promotion tool for renewable energy including ocean energy was enforced<br />
on 13 utility companies with a total capacity larger than 500MW in <strong>2012</strong>, replacing the Feed-In Tariff (FIT)<br />
policy initiated in 2002. It requires the companies to supply 2% of total electricity production by renewable<br />
energy in <strong>2012</strong> and to increase its portion to 10% in 2022. The policy applies a Renewable <strong>Energy</strong> Certificate<br />
(REC) value, which varies depending on the resource type and conditions, such as distance from coastline,<br />
capacity and installation method. The REC of tidal barrage with embankment is 1.0 while the one without<br />
embankment is 2.0. The REC has not been determined for other ocean energies.<br />
Main Public Funding Mechanisms<br />
The public funding for renewable ocean energy is led by the two Government ministries of MLTM and<br />
MKE Economy which operate the national RD&D programme for ocean energy. MLTM supports mainly<br />
demonstration projects under the “Practical <strong>Ocean</strong> <strong>Energy</strong> Technology Development Programme”. MKE<br />
funds mostly fundamental R&D projects under “New and Renewable Technology Development Programme”.<br />
ANNUAL<br />
REPORT <strong>2012</strong>