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  • Q How can I issue and sell a renewable energy certificate (REC)?
    A

    REC can be sold to the obligated retail sellers . (In 2019, there are 21 obligatory retail sellers under the RPS system)

    You can trade RECs at the spot market held weekly at the Korean Power Exchange or sell them directly through private contracts with the obligated retail sellers or through the contracts signed under open bids for a fixed prices held twice a year (Korea Energy Agency). 
  • Q I want to install a renewable energy power plant on my land. Where should I begin?
    A

    As the first step, you should get a permit for the project.  You should contact the local authority responsible for power project permits.

    You may also reach out to us for further consultation. 
  • Q How can I apply for a development permit?
    A Development permits are restricted by multiple laws depending on the site conditions. You need to thoroughly verify the feasibility from the preliminary stage, develop detailed procedures, and draft the application forms and required documents. Since it is challenging for individuals to prepare on their own, it is recommended to work with solar energy companies or surveying firms.
  • Q How do I apply for a power generation business license?
    A

    Those who plan to engage in the power generation business need to familiarize themselves with the detailed procedure, approval criteria, reasons for disqualification, and required documents in relation to the application for the power generation business license.

    Required documents: seal certificate, family relations certificate, resident registration certificate, written proof of the remaining business budget, application form, and all other necessary materials.
  • Q How do I verify the grid connection capacity?
    A

    To engage in the power generation business, a three-phase power line tailored to the generation capacity is required. Even in areas where development permits are granted, it is necessary to verify the grid's available capacity before starting the project.

    It is essential to contact the Korea Electric Power Corporation in your region
  • Q What is REC?
    A

    REC (renewable energy certificate) is a certificate of renewable energy supply.

    Mandatory power generation certificate for renewable energy. It is mandatory for the power generation facilities with a capacity of 500 megawatts (MW) or more to generate renewable energy and obtain government certification.  This certificate is issued by the government to the obligated retail sellers. They can either have their own facilities, use the facilities of external renewable energy generators, or procure from the certificate trading market. Based on these certificates, the government evaluates whether the obligation has been fulfilled and levies fines for non-compliance.
  • Q What is RPS?
    A

    RPS (renewable energy portfolio standard): A mandatory allocation system for renewable energy

    Large power generators (obliged retail sellers) with over 500MW capacity must produce and supply 7% of their total output (increasing by 1% annually, targeting 10% by 2023) from renewable energy sources like sunlight and wind. If they are unable to produce enough renewable energy on their own, they need to buy certificates (REC) from smaller businesses to meet their allocation requirements.  Those who fail to meet the required amount will face penalties.
  • Q What is SMP?
    A

    SMP: System marginal price correction factors

    Rate the adjustment factors applied differently depending on the power sources like coal and nuclear energy.  It is a kind of discount rate applied by KEPCO to purchase electricity from the power generating companies at a price lower than the standard rate. As the correction factor falls, KEPCO's power purchase cost from these companies also falls. In the electricity market, this correction factor is used as a mechanism to balance the equity among entities.

    Due to the different power production costs depending on the energy sources, this was introduced to adjust the price difference and maintain financial fairness between KEPCO's power generating subsidiaries.
  • Q What is the procedure for a power generation project?
    A To proceed with a power generation project, you need to go through a feasibility study process, such as verifying the site requirements, analyzing the potential quantity and economic feasibility, in the preliminary stage. During the implementation, you need to go through the administrative application procedures, such as obtaining a power plant license and development permits.  Finally, you need to go through procedures such as the  REC issuance for business operation.
  • Q How do I review the site requirements?
    A To proceed with a power generation project, you need to go through the process of obtaining a development permit. This is subject to restrictions under various laws depending on the conditions of the site on which the power plant is to be built.  Therefore, it is important to fully check the possibility of obtaining a development permit from the preliminary stage before you go  any further. 
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