Abstract The current global energy crisis has massive implications for the people and economy of South Korea (Korea), where at least 90% of energy use depends on foreign fossil fuels. Clean electricity accounts for only 39% of total generation, with electricity demand expected to increase 30% by 2035. This study shows that Korea can achieve 80% clean electricity by 2035 by capitalizing on rapid technological improvements and decreasing costs of solar, wind, and battery technology. Doing so would slightly lower electricity supply costs, significantly reduce dependence on imported natural gas and coal, and dramatically cut power sector emissions. Further, this study finds that Korea’s power grid under a clean energy scenario will maintain reliability without coal generation or new natural gas plants. To realize these significant economic, environmental, and energy security benefits, policies such as an 80% clean electricity standard by 2035 and corresponding renewable energy deployment goals are required. |
Authors: Won Young Park1,*, Nikit Abhyankar1,2, Umed Paliwal1,2, James Hyungkwan Kim1, Nina Khanna1, Kenji Shiraishi1,2, Jiang Lin1,2, and Amol Phadke1,2 1 Lawrence Berkeley National Laboratory, United States of America 2 University of California, Berkeley, United States of America Yong Hyun Song3, Hee Seung Moon3, Eunsung Kim3, Sanghyun Hong3, and Seung Wan Kim3,4* 3 NEXT Group, Republic of Korea 4 Chungnam National University, Republic of Korea *corresponding author < Table of Contents > 1. INTRODUCTION 2. METHODS AND DATA SUMMARY 2.1. Policy Scenarios 2.2. Modeling Tools and Approach 2.3. Key Modeling Inputs 2.4. Sensitivity Analysis 3. KEY FINDINGS 3.1 Generation, Transmission, and Storage 3.2 Cost, Reliability and Environmental Impacts 3.3 Sensitivity Analysis 4. CAVEATS 5. CONCLUSIONS AND FUTURE ACTIONS REFERENCES APPENDIX A | MODELING APPROACH APPENDIX B | MODELING INPUTS APPENDIX C | SOLAR AND WIND PROFILES APPENDIX D | REGIONAL RENEWABLE ENERGY DEPLOYMENT |
