Seoul: Carbon-free energy sources, including nuclear power and renewable energies, will account for over 70% of South Korea's annual power generation by 2038 under the new national energy plan. South Korea plans to sharply increase the proportion of carbon-free energies in the annual energy supply to a combined 70.7% in 2038 from 39.1% in 2023, according to the Korean Ministry of Trade, Industry and Energy.
According to Bahrain News Agency, carbon-free energies include nuclear power and solar, wind, and hydrogen power. The ministry has finalized the latest national electricity supply plan for the years 2024 through 2038 to meet the fast-growing electricity demand sparked by the development of advanced industries, such as artificial intelligence (AI) and electric vehicles (EV), while working to achieve carbon neutrality by 2050.
Demand for electricity in South Korea is expected to grow 1.8% on a yearly average to reach 129.3 gigawatts (GW) in 2038. The electricity demand currently stands at around 100 GW, according to Yonhap News Agency. Under the plan, the government will increase the proportion of nuclear and renewable energies to 31.8% and 18.8% by 2030, respectively, and 35.2% and 29.2% by 2038.