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"However, according to industry interviews, it is understood that the panel price has increased from 10% to 15%, or from KRW340 to KRW400 per Watt ($0.289-0.339), over the past six months."
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“However, according to industry interviews, it is understood that the panel price has increased from 10% to 15%, or from KRW340 to KRW400 per Watt ($0.289-0.339), over the past six months.”
The continuous rise in solar panel prices may affect PV projects of up to 1 MW tendered by the Korea Energy Agency and the domestic solar module industry may not be able to provide the necessary production capacity to respond to the recent supply bottleneck. Module prices increased by up to 15% in the Korean market over the past six months.
In the latest tender held under the scheme by the agency, 2 GW of PV was allocated at a final average price of KRW136.128 per kWh ($0.115). “ It is difficult to know the exact number of projects halted by the supply chain disruptions in Korea,” Kwon added.
Module prices increased by up to 15% in the Korean market over the past six months. The current global supply chain disruption in the PV industry is delaying or making unviable many solar projects across all markets.
“ Currently, there is no official index for solar panel prices in Korea,” Kyungrak Kwon, renewables program director at Seoul-based NGO Solutions for Our Climate, told pv magazine.
South Korea reached an installed solar power capacity of around 15.6 GW as of the end of December 2020. The newly installed PV capacity for 2020 was around 4.1 GW. The country currently plans to install 30.8 GW of solar by 2030. This content is protected by copyright and may not be reused.
