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Gov't plans to build nationwide 'smart grid' by 2030
SEOUL, Jan. 25 (Yonhap) -- The government has come up with a final plan to establish a nationwide "smart grid" as part of its effort to cut back on energy imports and make better use of eco-friendly resources, government officials said Monday.
The Ministry of Knowledge Economy said the plan is expected to cost the country 27.5 trillion won (US$23.9 billion) and calls for the expansion of low-carbon infrastructure, starting in major cities.
The plan also involves the establishment of an "intelligent" and reliable power grid, more use of renewable energy and the upgrading of the country's transportation system.
Smart grids combine regular power lines with information technology to permit real-time monitoring of electricity output and demand. The system could facilitate the incorporation of renewable energy into the main power grid, and allow households with their own solar panels or wind turbines to store energy and sell it back to the power company.
The system could also fuel the development of an entirely new line of consumer and industrial products, benefitting the economy, the ministry said.
The government is expected to spend 2.7 trillion on initial research and development, creating new markets and building basic public infrastructure. The remaining 24.8 trillion won is expected to come from the private sector and public utility companies.
As a testbed project, the government is also planning to build 200 plug-in power recharge stations for electric cars in 2011 and increase their number to 27,000 by 2030.
"If the building plan moves forward without a hitch, the country may be able to save up to 47 trillion won on energy imports by 2030 which is equivalent to 440 million barrels of crude oil," an official said. He claimed the move will result in 3.2 trillion won saved because fewer power plants will need to be built.
The plan is also expected reduce South Korea's greenhouse gas emission by 230 million tons, create 50,000 new jobs and generate a combined 74 trillion won in fresh domestic demand for new products and services, the ministry said.
The government may submit a special smart grid law to the National Assembly this year that would include provisions to help set up the new infrastructure, according to the ministry, which is in charge of industry and energy policy.
yonngong@yna.co.kr
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