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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