Forecast: Share of Renewable Electricity Generation in South Korea

The share of renewable electricity generation in South Korea has shown a gradual increase over the past decade, rising from 1.63% in 2013 to 2% by 2023. From 2024 onwards, this trend is expected to continue with forecasted values reaching 2.11% by 2028. The year-on-year variations have generally been positive, indicating a steady albeit slow upward trajectory in the adoption of renewable energy sources. The Compound Annual Growth Rate (CAGR) over the last five years stands at approximately 1.28%, while the forecasted CAGR for the next five years is 0.86%.

Key points to watch for in the future:

• Government policies and incentives to drive renewable energy adoption.
• Technological advancements that could lower costs and improve efficiency.
• Investment trends in renewable infrastructure and innovation.
• Public and private sector collaborations to accelerate the transition.