Busan is good

Busan Metropolitan City Secures KRW 1 Billion in National Funding to Expand New and Renewable Energy through 2026 Convergence Support Program

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Busan Metropolitan City (Mayor Park Heong-joon) announced that it has been selected for the Ministry of Climate, Energy and Environment (Korea Energy Agency)’s “2026 New and Renewable Energy Supply (Convergence Support)” public contest and will begin full-scale implementation of “electricity cost reduction and RE100 transition support through the distribution of new and renewable energy sources” in the Gangseo-gu area.

The City formed a consortium with Busan Technopark and applied for the contest with a total project budget of KRW 2.78 billion (KRW 987 million in national funding, KRW 1.196 billion in municipal funding, and KRW 597 million in private investment), resulting in its selection.

RE100 (Renewable Energy 100%): A global, corporate-led campaign that aims to transition to 100% renewable energy by 2050.

This program aims to establish an energy self-sufficiency base by installing two or more renewable energy sources—solar photovoltaic, solar thermal, and geothermal—within a designated area. In 2026, the City will install renewable energy systems at 88 locations in Gangseo-gu: 57 residential sites and 31 commercial buildings.

A total of 77 solar PV systems (1,505 kW), 9 solar thermal systems (54㎡), and 2 geothermal systems (35 kW) will be installed. These facilities are expected to produce 2,028,627 kWh of electricity annually, replace 439 toe of fossil fuel, and reduce 963 tCO₂ of greenhouse gas emissions.

In addition, by linking the installations with the City’s “Carbon Credit Registration Platform Project,” additional revenue generation will be possible.

The project is also expected to significantly reduce electricity costs for companies in industrial complexes and support their RE100 implementation. Solar PV systems totaling 1,059 kW will be supplied to 13 companies in the Gangseo-gu industrial complex, with an estimated annual savings of KRW 268 million in electricity costs.

In particular, strengthening RE100 implementation for companies in shipbuilding, automobile, and parts manufacturing is expected to improve export and supply competitiveness.

For public and welfare facilities, the City will establish a “Renewable Energy Experience Center” to enhance public awareness of the energy transition, and provide solar thermal systems free of charge to vulnerable households to improve energy welfare.

Solar PV and solar thermal systems will be installed at welfare facilities such as senior centers, enabling these facilities to serve as promotional and educational spaces where citizens can directly experience renewable energy. Support for vulnerable households—those facing high heating and hot water costs—will help address blind spots in energy welfare.

Park Dong-seok, Director General of the Advanced Industry Bureau, stated, “Selection for this program marks an important milestone for Busan in its advancement as a leading carbon-neutral city. We will accelerate the establishment of a Busan-style renewable energy convergence supply model, enhance energy welfare that citizens can truly feel, and strengthen companies’ competitiveness through RE100 implementation.”