With the influx and fluctuating fossil fuel prices andnuclear disasters such as Fukushima, questions have been raised about thecontinual use of such source of power. Renewable sources of energy seem to bethe answer to the growing need for power. The world receives 174 petawatts ofsolar energy every year, which is undoubtedly the largest and most abundantsource of energy, other sources of energy such as hydro power and coal requirea lot of effort to produce electricity whereas solar farms are considered to beeasily established. The production of electricity is simple and is simply givento the grid.
Recently winning the 2014 C40 & siemens City ClimateLeadership award in the green energy category the city of Seoul is in theprocess of transforming itself from being an energy consuming country to aproducer with the help of 10 million participating residents. In light of thegrowing global concerns over the use of nuclear power the prestigious awardallowed the country to evolve into a city that is solar powered andenvironmentally friendly. The city has laid out plans to be in the forefront tothis important cause and further itself to becoming an energy reliant countryreducing greenhouse gas emissions South Korea is one of the most industrialised countries inAsia, ranking eighth in the world as the largest electricity consumer, howeverin recent years it has introduced the idea of increasing the renewable energyuse.
The country is strongly supported by the manufacturing industry of solarpv as well as a share of supportive polices. Recently revising its nuclearpower policy South Korea is now reliant on nuclear power that would potentiallyhelp the source of solar pv manifold.The country is attempting to improve renewables as they havesuggested that by 2020 the global solar power production is estimated to reach500GW from 40.134GW recorded in 2014, suggesting that the market is one of thefastest growing within Asia. The South Korean solar power market is valued toreach billions in 2020 with a CAGR of 10.6%.
Figures from 2014 projected forthe year 2020.