Add us as your preferred source on Google to see more of our content in Search.
Add to Preferred SourcesThe Global Green Growth Institute (GGGI) and Hanwha Q CELLS, a manufacturer of photovoltaic solar cells, will hold on Tuesday, October 30, the GGGI Energy Forum 2018 in Seoul, Republic of Korea.
Under the theme of “Renewable Energy Potential on the Korean Peninsula,” the GGGI Energy Forum 2018 will serve as a platform for 1) sharing energy transformation experience from different countries, including GGGI’s Members, 2) discussing the renewable energy potential on the Korean Peninsula and 3) understanding prospects of energy policy transition in the Republic of Korea and Japan.
According to the New Climate Economy’s latest report, around $280 billion was invested in new renewable energy generation last year, continuing a six-year trend of outpacing global fossil fuel generation investments. As costs have plummeted, investment in renewables has soared, with increased investor interest driven partly by public commitments and rapidly maturing technologies. Government support policies have also played a pivotal role in the global increase of renewable energy investments.
In the Republic of Korea, President Moon Jae-in set the Renewable Energy 3020 goal in November 2017, with the aim of increasing the proportion of energy generated from renewable energy to 20 percent of the total by 2030 from the current 7 percent. Korea’s neighboring country of Japan halted all its nuclear power generation following the Fukushima nuclear power plant explosion in the wake of an earthquake and subsequent tsunami in 2011. While overall emissions in Japan remain relatively high, new policies have the potential to positively affect the country’s long-term emissions trajectory.
The Korean producers of cleantech, storage and e-mobility technologies are leading worldwide. A 100% renewable energy-based system will help North Korea to achieve energy security, to attain an independent political position by not relying on energy imports and to boost economic growth by creating new jobs.
Original source: GGGI
Published on 15 October 2018