South Korea is becoming the dominant player in the global effort to develop commercially viable renewable energy sources. The Asian country hopes to produce a minimum of 1000 units of hydrogen-powered vehicles, including the supporting infrastructures, by 2020.
In 2014, the country's Hyundai Motor introduced a fuel cell variant of the Tucson SUV that according to Business Insider is the first mass-produced vehicle of its kind. The rollout reflected South Korea's increasing role as the world leader in developing clean energy, outpacing in the process the giants such as the United States, Russia and neighboring Japan.
Milestones
South Korea's rise is backed by solid achievements that point to its commitment of upscaling the use of fuel cell from consumer level to industrial. In the same year that the Tucson SUV on hydrogen starts running on roads, a 59MW fuel cell plant went online in Hwasung City. Established with a U.S.-based firm, the energy complex gave Seoul the honor of having set up the biggest renewable energy plant in the world to date.
Similar projects are lined up this year, in which South Korea will collaborate with other nations in harnessing further energy fuels that environmentally friendly. The end-goal of the country's current energy blueprint, according to a report by OilPrice.com, is to source a sizeable chunk of energy requirements from renewable sources.
By 2030, the plan is draw 20 percent of its power needs from clean energy, preferably 10 percent of which coming from fuel cell, the same report added.
Leading the way
Judging from its concerted efforts, South Korea now leads the pack of nations wanting to gradually shift from total fossil fuel dependence to partial use of fuel cell. In this endeavour, Korean firms are working in partnership with U.S. counterparts. The joint operations are looking to further improve the technology behind fuel cell and make it more economical to use.
If the initiatives would lead to huge jumps, OilPrice.com is estimating that by 2022, the fuel cell stationary market, crucial in supporting the envisioned wide-use of hydrogen-fired vehicles, will be worth around $15 billion. And South Korea is the epicenter of this welcome tremor.
