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groundwater will not affect the quality of the water and thus thermal utilization should be free from such regulation. 15.4.2 Support Initiatives and Market Stimulation Incentives The Korean Government offers long-term low-interest loans, tax benefits and government/public funds to those using renewable energy. Subsidies for geothermal installation through various renewable energy dissemination programs amounted to US$ 65.5 million in 2010 (see Table 15.3). A special subsidy program for supporting economic competitiveness of greenhouses started in 2010. Table 15.3 Subsidy for geothermal heat pump installation for the period 2007-2010*. 2007 Subsidy (US$ 1,000) 8,351 2008 2009 2010 Deployment Subsidy Program 1 Million Green home Program Greenhouse Subsidy Program Total Capacity (MW) 15.37 Capacity (MW) 14,11 Subsidy Capacity (US$ 1,000) (MW) 7,689 6.83 Subsidy Capacity (US$ 1,000) (MW) 4,153 5.11 Subsidy (US$ 1,000) 2,498 Rural Deployment Program 2.63 1,998 89.55 73,728 14.39 9,093 11.08 4,702 - - - - - - - 57.3 48,443** - 18.01 10,349 103.66 81,417 26.24 17,114 87.31 * Note: Data correspond to year of subsidy support, so actual operations are to be one or two years later ** 80% (central government 50% + local government 30%) of total costs are subsidized, while for the other programs 50% are covered by government - Subsidies are given in US$ 1,000s; US$ 1 = 1,000 KRW until 2009 and 1,227 KRW for 2010 15.4.3 Development Cost Trends No data available 15.5 Status of Geothermal Industry The geothermal industry in Korea has mainly focused on GHP design and installation. According to official reports, there are more than 100 small businesses for GHP, but among them less than 20 companies are active with more than 50% of the market share. There are two industry associations: Korea Geothermal Energy Association (registered to the Ministry of Knowledge Economy) and Korea Groundwater and Geothermal Energy Association (registered to the Ministry of Land, Transport and Maritime Affairs), both of them are for GHP installation. Several engineering companies and construction companies have recently participated in, or are preparing to participate in, geothermal power generation through domestic projects or overseas - - 5.02 3,868 13.82 9,905 65,548 172PDF Image | Geothermal Research and Tech IEA
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