[Inside Chodong] What the 'Lost Two Years' of Renewable Energy Have Left Behind

Looking into the 'Strategy for Expanding Renewable Energy Supply and Strengthening Supply Chains' report released by the government last week, one can't help but wonder what is going on. It makes you question if this document really comes from the Yoon Seok-yeol administration. This is not to say that the report is meaningful simply because it is the first renewable energy roadmap of the Yoon government, which declared the abandonment of the 'nuclear phase-out' policy.

The core of the report can be summarized as increasing renewable energy by an average of 6 gigawatts (GW) annually until 2030. The first question that arises is, "Why 6 gigawatts?"

In the 10th Basic Plan for Electricity Supply and Demand, which outlines the direction and long-term outlook for national power operation, the government decided to increase renewable energy such as solar and offshore wind power by 60 gigawatts by 2030. However, the capacity secured until last year was only 24 gigawatts. Was it just simple arithmetic? If 6 gigawatts are added each year for six years from next year to 2030, the remaining 36 gigawatts can be exactly met. One would like to believe that a country's energy policy was not decided as if solving an elementary school math problem.

Another reason to focus on 6 gigawatts is its feasibility. The reason one cannot help but question whether this is achievable in reality can be found in the Moon Jae-in administration. During the Moon administration, which actively promoted renewable energy, the average annual new renewable energy capacity from 2017 to 2022 was only 4 gigawatts. Even in 2020, the year with the highest capacity added, it was only 5.5 gigawatts. According to this report, President Yoon is saying he will become a renewable energy 'evangelist' surpassing former President Moon. It is quite surprising.

Even if the government induces large-scale investments with strong will and promotes renewable energy as planned, there are still suspicious parts. It is difficult to guarantee whether the current renewable energy ecosystem can handle this plan. The renewable energy industry ecosystem, which must produce materials, components, and equipment, has practically collapsed over the past two years. After President Yoon personally declared the "eradication of the solar power interest cartel" in September 2022, the renewable energy industry faced the brink of mutual destruction.

The solar power industry had to suffer from government support cuts amid the onslaught of cheap Chinese products. Companies had to tremble before the government's crackdown on "solar power project corruption under the Moon administration." If there was corruption, audits and punishments should rightfully be carried out. However, companies unanimously say that it was like burning down the whole house to catch a flea.

The solar power industry desperately wanted to communicate with the government, but the government remained silent. Even when the vice chairman of the Korea Photovoltaic Industry Association staged a one-person protest in front of the National Assembly at the end of last year, calling for a shift in renewable energy policy and then contracted acute pneumonia, the government did not even blink an eye. Now, suddenly saying they want to increase renewable energy is baffling and hard to understand.

A few days ago, the representative of The Climate Group in the UK, which leads the 'RE100' campaign advocating 100% renewable energy use, visited Korea. The day after meeting the Minister of Trade, Industry and Energy, he pointed out, "Korea's renewable energy still has a long way to go." This offers a glimpse of how the international community evaluates Korea's energy policy. They classify Korea as a "country with barriers to renewable energy procurement" and advised that Korea should establish a policy foundation by raising national renewable energy targets to encourage companies to expand their use of renewable energy.

The world is suffering from abnormal climate conditions. Transitioning from a carbon-dependent energy system is an urgent task. We must find wise solutions suited to our reality. It took losing too much to realize that policies that fluctuate with each administration are of no help at all.