South Korea plans to spend 48 billion won (US$42.6 million) over the next three years to support local renewable energy testbed projects, the government said Tuesday.
The move calls for supporting testbed programs in solar and wind power generation fields, and fuel cell sectors as well as necessary research and development of parts and materials, the Ministry of Knowledge Economy said.
Of the total to be spent up until 2013, 20 billion won will be used this year, the ministry said.
"Money will be used to test and certify new products made locally so they can be sold commercially, and to create a domestic market for renewable energy resources," it said.
The ministry, which is in charge of the country's industrial policy and trade promotion, said extra attention will be paid to help small and medium enterprises with efforts to help export products.