Hopewind''s 110kW PV Inverters Drive Sustainability and Cost
This project showcases how commercial and industrial solar solutions powered by Hopewind''s technology can offer both environmental and economic benefits, proving to be a
Right now, no power plants in South Korea are fitted with carbon capture technology. The journey to net-zero emissions hinges on $2.7 trillion of investment and spending between now and 2050 to decarbonize South Korea's energy system, 37% higher than in an economics-led transition.
South Korea's investment in the energy transition came in at $25 billion last year. A clear and consistent policy framework is necessary to boost investor confidence and match the spending needs of a net-zero future.
The power sector is the country's biggest source of emissions. Based on the findings of New Energy Outlook: South Korea, in order to be on track with a net-zero-by-2050 pathway, emissions from electricity generation need to drop by more than two-thirds by the end of this decade.
A clear and consistent policy framework is necessary to boost investor confidence and match the spending needs of a net-zero future. “The higher investment requirement for the Net Zero Scenario represents a significant economic opportunity for the country,” said Analeigh Suh, BNEF's South Korea analyst and co-author of the report.
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