South Korea eyes growing solar energy market

January 29, 2008

EETimesAsia: South Korea Ministry of Commerce, Industry and Energy said the country is ready to take a bite into the growing solar energy market with its steady technological gains and improvements in manufacturing. This is according to Korea.net report, which cited the ministry as saying that the country has had all the necessary technology to produce quality solar electricity since 2006.

The ministry is confident that although South Korean technology levels stood at 70 percent of industry leaders like Sharp, Q-Cells and Kyocera in 2007, the country is making gains as more companies pour greater resources into R&D.

According to a ministry official, 61 percent of solar panels used in homes and 85.4 percent for larger industrial generation were imports in 2006. In less than a year, local manufacturers replaced foreign competition. In July 2007, the market share of foreign products for home solar generation dropped to 45 percent while numbers for larger commercial solar production facilities slid to 85.2 percent….