South Korea s solar panels solar power generation

domestic solar PV market is among the top 10 in the world. In 2022, South Korea had the ninth-largest cumulative installed capacity, at 24.8 GW.1 Nevertheless, the country’s capacity additions slowed somewhat in 2022, from 4.1 GW in 2020 and 4.2 GW in 2021 to an estimated 3.6 GW in 2022.2 The PV penetration rate—solar PV’s theoretical share in national electricity demand—increased slightly, from 4.6% in 2021 to 4.7% in 2022.3 This was not suficient to place South Korea within the world’s top-25 countries; PV penetration in the European Union (EU) was 8.7% due to high rates in Spain (19.1%), Greece (17.5%), the Netherlands (15.9%), and Germany (12.4%).4 Table 1 displays the world’s top-10 counties [pdf]