Korea s high energy storage technology factory is running

Are South Korean companies investing in energy storage systems?

While South Korean companies once held over half of the global energy storage system (ESS) market, a string of ESS-related fires and a lack of infrastructure had dampened investments in this market.

What happened to Korea's battery storage market?

ET News said it marked the utility’s first bulk procurement of battery storage in five years since the Korean market was put on pause by a series of fires at mostly commercial and industrial (C&I) facilities during 2017-2018.

What caused investments in South Korea's ESS market to dampen?

A string of ESS-related fires and a lack of infrastructure had dampened investments in this market. Less than a decade ago, South Korean companies held over half of the global energy storage system (ESS) market with the rushed promise of helping secure a more sustainable energy future.

What is South Korea's goal for the global ESS market by 2036?

According to South Korea’s “10th Basic Plan for Electricity Supply and Demand,” the government aims to capture over 30 percent of the global ESS market by 2036.

Is KEPCO Asia's biggest project with grid-stabilising batteries?

Korean Electric Power Corporation (KEPCO) said last week (26 September) that a completion ceremony was held for what it claimed is Asia’s biggest project featuring grid-stabilising batteries.

Why is South Korea implementing a Bess frequency regulation project?

South Korea is in the midst of the world’s largest BESS frequency regulation project. The target is to install 500MW by 2017. In addition to enhancing the efficiency of the grid, installing BESS capacity will reduce KEPCO’s need for readily available spinning reserve capacity.