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S. Korea aims to become nationwide user of 'smart grid' system by 2030
SEOUL, Jun 06, 2009 (Asia Pulse Data Source via COMTEX) --
South Korea aims to become the world's first nationwide user of a "smart grid" system that can make better use of eco-friendly power resources, a government-led committee said Friday.
The future-oriented grid that will be set up by 2030 could help reduce the country's greenhouse gas emissions by 41 million tons annually and help cut fossil fuel imports by US$10 billion, a report by the joint smart grid roadmap committee said.
Smart grids merge ordinary power lines with information technology and satellite communication systems, permitting real-time monitoring of electricity demand and output. The system, which makes extensive use of fuel cells in most electrical appliances and vehicles, can allow better use of solar, wind and other eco-friendly power sources that can only be generated only in favorable weather conditions.
The committee made up of government officials, company executives and representatives and researchers also said smart grids are expected to reduce overall energy use by 3 percent and contribute to lowering the peak load for electric power by around 6 percent, which can save the country the expense of building seven 1,000 megawatt nuclear reactors.
"The advanced grid system can become the country's new growth engine and create a 68 trillion won domestic market that could sustain 500,000 new jobs," said an official from the Ministry of Knowledge Economy which is in charge of the project.
He added that because the country will likely become the testbed for widescale use of smart grids, it will be in a good position to initially grab up to 30 percent of global market share.
"Other benefits include an average 15 percent drop in electricity bills for consumers who use so-called advanced smart meters to charge their appliances and cars when power cost are the cheapest," the official said.
Related to the building plan, Korea Electric Power Corp., the country's power monopoly, said it will set up a smart grid pilot complex on Jeju Island in 2011.
The complex can test the feasibility of operating the grid for about 3,000 households and work out any complications before a nationwide grid is built.
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