SOUTH KOREA BUILDS SOLAR POWER (NO INSPECTIONS)

South Korea Solar-Panel Output May Rise, Industry Official Says
Shinhye Kang (w/Ryan Woo, John Chacko), March 8, 2010 (Bloomberg News via BusinessWeek)

"South Korea’s solar-panel production may more than double this year on the global economic recovery and lower component costs…Output may exceed 1,000 megawatts this year compared with 500 megawatts in 2009…

"Countries including Australia, Spain and Japan are offering incentives to households and businesses to switch to cleaner energy sources to cut pollution and carbon emissions. Global production will climb to 7,500 megawatts this year from 5,500 in 2009…"

South Korea is spending twice the percentage of its GDP as the U.S. to advance energy innovation. (click to enlarge)

"Polysilicon, the most expensive component in solar cells, has dropped to around $60 a kilogram from a peak of $400 in 2008 because of rising output…

"Still, South Korean makers must further expand capacity to compete with their global peers…Solar panels produced by South Korea were about 16 percent more expensive than those made by China last year…"

South Korea is spending to advance energy innovation in a wide spectrum of sub-sectors but especially in New Energy and nuclear. (click to enlarge)

"South Korean companies plan to invest 3 trillion won ($2.7 billion) in solar energy in 2010, up from 1.9 trillion won last year, the Ministry of Knowledge Economy said. Hyundai Heavy Industries Co. and LG Electronics Inc. have entered the market to diversify revenue sources.

"In the next five years, the cost of producing one kilowatt of electricity from the sun…[is expected to] continue to decline to the point where costs are comparable to those associated with conventional energy sources…"