|South Korea||<30kW = $0.5134 30-200kW = $0.4863 200kW-1MW = $0.4863 >1MW = $0.4593||20 years|
Update Jan 01, 2012
Korea's Renewable Portfolio Standard (RPS) has officially replaced FiTs for 2012. The RPS programme obliges power companies, with at least 500MW of power capacity, to increase their renewable energy mix from at least 2% in 2012 to 10% by 2022.
Under this project, a solar installation of 220MW has been set and gradually increasing to 1.2GW in 2015.
South Korea has pledged a 30% reduction in emissions by 2020 and if legislation is passed, it will become the third Asia Pacific country to tax polluters after Australia and New Zealand.
South Korea's solar feed-in tariff was cut in October 2008, resulting in only 10MW between October 2008 and March 2009 being installed in the entire country with a 500MW cap.
From 2009, a decremental rate has been applied to solar PV of 4% per year. The standard price for each of these power sources will be applied for 15 years.