Renewable energy-based power trade hits new high in 2017

The volume of electricity generated from renewable energy jumped more than 20 percent on-year in 2017 to touch a record high, industry data showed Monday.

Asia's fourth-largest economy saw the trading value of power generated from renewable energy come to 2.05 trillion won ($1.82 billion) last year, up 20.1 percent from the previous year, according to the data from the Korea Power Exchange.


It was the largest amount since the exchange started to compile related data in 2001. That year, the value of those transactions stood at a mere 50 billion won.

Last year's tally took up 4.6 percent of the country's electricity transactions between power companies and the Korea Power Electric Corp. worth 44.8 trillion won. The percentage was also a record high.

Electricity coming from the so-called by-product gas accounted for 47 percent of renewable energy-based power generation, followed by hydro power with 12.7 percent, solar power with 10.1 percent and wind power with 9.6 percent. Biomass, fuel cells and the integrated gasification combined cycle took up the remainder.


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