Domestic Project to Support Energy Efficiency Market (LED items) Deployment
Goals
- According to the National Energy Master Plan, public institutions should replace its lightings with 100% LED lighting by 2020, and LED lighting should be mandated to lightings used for a long-time in private buildings such as underground parking area in apartment.
- Utilizing Energy Service Companies (ESCO) fund and project financing techniques, lightings in large-scale applications such as subways, tunnels and passenger terminals are replaced with LEDs
- Providing subsidies for LED lighting installation to low-income families, welfare facilities, poultry farms etc.
- Placing a higher priority to convert 1.36 million lightings to LED lighting in subway stations, tunnels, airports, railway stations, and tunnels in expressway
- Building a foundation to trade peak reduction in the market by implementing energy efficiency business and realizing low-carbon energy society
Overview of Project to Support LEDs Deployment: 2016 Energy Efficiency (EE) Market Demonstration
Project Overview: Providing incentive for the reduction of contracted amount after replacing existing equipment with high-efficiency equipment and operating normally during the peak time from 2 pm to 6 pm within the peak season between July and September. Preparing and executing budget of 3.39 billion Korean won for LED lightings in 2016.
What we’ll accomplish
- Reducible resources during the peak time from 2 pm to 6 pm within the peak season in summer between August and September, excluding weekends and holidays
- Reduce demand of LED 10kW or more by the equipment
- Replace with certified high-efficiency equipment in high-efficiency equipment and/or energy efficiency rating
Business Application, Evaluation, and Selection
- Qualification to Apply: ESCO, Demand Side Management (DSM) service provider, Businessman who install LEDs in own business workplace
- Installation site: Buildings (factories, business buildings, etc), excluding public institution buildings
Payment of Support Fund and Incentive
- Basic support fund is provided after equipment installation is confirmed. Guaranteed incentive is offered after performance verification test is completed.
- Limit of Support Fund: Business workplace can be received a benefit up to 150 million Korean won in each item. Businessman can receive maximum 750 million Korean won in each item.
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Items
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Basic
Support fund
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Incentive Cap
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Limit of Support Fund
(Million Korean won)
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Business site1)
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Businessman2)
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LED
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160 thousand Korean won/kW
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160 thousand Korean won/kW
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150
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750
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1) Each business can be received 150 million Korean won
2) ESCO, Smart Grid Service Provider (SGSP), and self-employed business can be
received 750 million Korean won