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RPS Reform: Is the Amendment to the Renewable Energy Act Aligned with the Government’s Policy Objectives? : A Commentary on Bill No. 15929

This issue brief assesses whether the proposed amendment to replace the RPS with an auction-based system aligns with the government’s policy objectives. It finds that the new design largely retains the existing RPS structure, limiting its effectiveness. As a result, most policy objectives are unlikely to be achieved or only partially achieved.

A Proposal for Improving the Preliminary Feasibility Study Framework for Offshore Wind Marshalling Ports

Expanding offshore wind deployment requires not only installation vessels but also the preemptive development of supporting marshalling port infrastructure. However, only one port in Korea—Mokpo New Port—currently has practical installation capabilities, raising concerns about potential bottlenecks as deployment scales up. In particular, the preliminary feasibility study (PFS) process required for port development does not adequately reflect the role and operational characteristics of marshalling ports. This issue paper reviews the current PFS guidelines from the perspective of offshore wind marshalling ports and proposes improvements for more realistic benefit assessment.

Enhancing the Effectiveness of Renewable Energy Tax Incentives through Transferability : A Quantitative Analysis

To enhance the export competitiveness of companies facing pressure to achieve RE100, there is an urgent need to promote policies that expand renewable energy procurement. However, the current investment tax credit scheme remains ineffective due to its low credit rate and structural constraints. This issue paper recommends increasing the investment tax credit rate, allowing the transfer of tax benefits to companies that sign direct PPAs as assignees, and introducing additional credits for the use of domestically manufactured products and local community participation.

A Window of Opportunity: Quantitative Analysis of the Production Capacity of Key Components in the Korean Offshore Wind Supply Chain

Effective strategies for supporting the offshore wind supply chain industry require quantitative data on supply-demand gaps. To address this, this study employed a bottom-up approach to quantify the production capacities of domestic offshore wind supply chain companies and established a comprehensive database. Based on this database and current market conditions, respective supply and demand scenarios were developed.

Multi-criteria renewable auction modeling considering the carbon footprint certification of photovoltaic modules

This study aims to investigate the efficiency and effectiveness of multi-criteria renewable auctions by constructing the multi-criteria agent-based renewable auction model. We simulated Korean solar photovoltaic (PV) auction market using the model, considering carbon footprint certification scheme of PV modules as a non-price selection criterion. The results show that low carbon footprint modules are extensively adopted than high carbon footprint modules, although the total costs required increased compared to the price-only auction. However, as the unit cost per carbon abatement is higher than the emission allowance cost, it is doubtful that multi-criteria auction is more cost-efficient than other policy instruments outside the auction. We have shown that the agent-based multi-criteria renewable auction model serves a useful tool to analyze the impact of auction design element on the auction results, and it can further be utilized to tailor the auction design by the model upgrade and modification.

Is the port ready? The need for a port development plan for the timely deployment of offshore wind

According to the 10th Basic Plan for Electricity Supply and Demand, Korea is targeting a 6.3% share of wind power in total electricity generation and a cumulative installed capacity of 14.3 GW of offshore wind power in 2030, but there are no ports in Korea that can be used as marshalling ports for offshore wind farms, and even if the construction of the currently planned ports proceeds smoothly, there will be a serious bottleneck from 2026, and only 7.8 GW of offshore wind power can be installed at the end of 2030. Our simulations show that 7.3 GW of additional offshore wind capacity could be installed by 2030 (totaling 15.1 GW), assuming that the currently planned ports are built as soon as possible, and new ports are constructed. This issue brief recommends that the government should reorganize the Basic Plan for Ports and the Basic Plan for the Construction of New Ports to meet the carbon neutrality target and proceed with the construction of installed ports based on this, which will proactively resolve bottlenecks and contribute to achieving the national offshore wind deployment target.

Korean Power System Challenges and Opportunities: Priorities for Swift and Successful Clean Energy Deployment at Scale

With South Korea’s electricity demand expected to grow 30% by 2035, transitioning to clean energy resources will be critical in reducing the electric sector emissions and achieving national climate goals. Rapid technological improvements can help keep costs low and maintain grid reliability, if Korea’s government takes a coordinated approach to the clean energy transition. This policy brief identifies key barriers to Korea’s shift toward clean energy, based on the authors’companion report (A Clean Energy Korea by 2035: Transitioning to 80% Carbon-Free Electricity Generation), interviews with experts, and the most recent data and literature. It then explores policy solutions for overcoming these technological, economic, and institutional barriers, and suggests market transformation strategies to speed the adoption of clean energy technologies. Amid ongoing cost and technological improvements in wind, solar, and energy storage, advancing this report’s recommended policy actions with maximum coordination among government officials can meaningfully accelerate Korea’s clean energy transition.

A Clean Energy Korea by 2035 - Transitioning to 80% Carbon-Free Electricity Generation

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.

Strategy for Grid Innovation in the UK to Realize a Renewable Energy-Centric System

This issue brief aims to draw policy implications for the power grid of Korea by examining the case of grid innovation in the UK, which has successfully achieved decarbonization of the power sector by establishing a renewable energy-centric power grid despite the constraints of being an island nation. Lessons learned for Korea: The required amount of control resources for system stability should be analyzed based on future scenarios and these control resources should be secured cost-effectively through an auction system. Optimal grid construction plans should be designed by conducting scenario-based economic evaluations and the decision-making processes should be transparently disclosed through reports for public discussion. In order to avoid grid constraint costs and social conflicts associated with onshore transmission line construction while achieving decarbonization of the power sector, Korea should also actively consider the implementation of offshore HVDC.

Implementation Cost Estimation for Net Zero Electricity System based on Optimal Storage Mix Model

We evaluated the economic costs of the transition to a more sustainable energy system in South Korea to achieve carbon net zero emissions (NZE) by 2050. The analysis presented that to achieve this goal, it is necessary to reduce the use of fossil fuel-based power generation, increase the development of carbon-free power sources, and secure storage facilities. We calculated the total costs of energy storage for the Path-to-NDC, Path-to-NZE A, and Path-to-NZE B scenarios. We also investigated the effects of renewable energy output control, demand pattern adjustments, and hydrogen storage on the investment costs of energy storage. Using sensitivity analysis, we studied the consequences of a zero-curtailment policy, excluding long-term storage, and increasing nuclear power generation. Our findings provided invaluable insights into the potential of these solutions to facilitate the transition to a more sustainable power system in South Korea.