The renewable energy supply in South Korea has shown consistent growth from 2013 to 2023. In 2023, the renewable energy supply stood at 2.4 units. Starting at 1 unit in 2013, the supply has generally increased year-on-year with varying growth rates. There were notable surges in growth, such as a 50% increase in 2014 and a 33.33% increase in 2017, and periods of steadiness and minor declines, such as in 2015 and 2018. Over the past five years, the Compound Annual Growth Rate (CAGR) has averaged 4.78%.

Future trends to watch for:

Forecasts indicate a 5-year CAGR of 2.29% from 2024 to 2028, suggesting a slower but still positive growth rate.
Expected growth rate by 2028 stands at 12%, signaling continued investment and development in renewable energy technologies.
Continued governmental policies and technological advancements will be critical in driving higher growth rates in the renewable energy sector.