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Energy Policy Simulator(EPS)

The Energy Policy Simulator (EPS) is a comprehensive analytical model designed to evaluate the impacts of energy policies across all sectors of the economy, including industry, power generation, and transportation. By integrating a wide array of policy levers—such as carbon pricing and renewable energy subsidies—users can construct customized scenarios to quantitatively assess greenhouse gas reductions, energy demand, and macroeconomic ripple effects, including GDP fluctuations and public health benefits derived from improved air quality. The EPS serves as a critical strategic compass for policymakers, providing a scientific foundation to identify the most cost-effective and beneficial climate action strategies while facilitating the design of optimal policy roadmaps that harmonize economic growth with environmental sustainability.

Coal Phase-Out Watcher NEXT Electricity Outlook 2025 - Part 2

This study presents an optimized coal phase-out roadmap that enables coal-fired power plants to maintain economic viability during their remaining operational period. By doing so, it aims to reduce uncertainties and financial risks associated with coal plant operations and contribute to accelerating the transition toward renewable energy.

NEXT Electricity Outlook 2024 - Part 1: Coal Phase-Out Watcher

This report aims to provide compelling evidence and guidance for policymakers and stakeholders interested in the gradual phase-out of coal-fired power plants (CFPPs). This is the first comprehensive analysis in South Korea, incorporating the latest power system modeling and quantitative data up to 2024, and offering a long-term outlook through 2050. Reflecting global trends towards carbon neutrality and shifts in environmental policies, this report proposes strategies for the power generation mix and identifies essential policies.

2050 Climate neutrality roadmap for Korea K-map scenario 2.0: Repowering Korea

This study is based on the "2050 Climate Neutrality Roadmap for Korea, K-Map Scenario: Implementing an ambitious decarbonization pathway for the benefit of future generations and the Korean economy" released in February 2022, which examines the potential for additional GHG reductions in five emission sectors: transition, industry, transportation, buildings and agriculture, and analyzes the necessary measures. The results of the analysis for each sector are presented in the order of updating the GHG reduction roadmap, analyzing the potential for additional reductions, and proposing necessary policies, with the aim of analyzing the sectors that need rapid transition to achieve carbon neutrality and strengthening national competitiveness. We hope this report will serve as a useful reference for policy makers and researchers working to achieve carbon neutrality.

P2P Credit Auction vs. Net Metering: Benefit Analysis for Prosumers under Incremental Block Rate Electricity Tariff

Our study conducts a quantitative analysis how the introducing of peer-to-peer (P2P) trading affects the benefits of each stakeholder, offering a guide for policy adoption. Firstly, we have devised a P2P trading mechanism based on credit auctions tailored for residential, while considering the application of the increasing block rate tariff often applied to residential customers in the real world, and have assessed its benefits in comparison to the current net metering scheme. Multiple case studies were undertaken, encompassing various scenarios, including the level of purchase price of utility for uncleared auction offers, the proportion of prosumers participating in the trading network, and the level of capacity of PV. Our study shows that the P2P trading does not always yield positive benefits for prosumers compared to the prior policy. Nevertheless, we identify specific conditions under which the P2P trading can stimulate residential PV installations.

The rise of rooftop PV, what should we prepare?: Solutions from the California Case

This issue brief explores alternatives to address the inefficiencies and instability of the electricity grid caused by the growth of behind-the-meter (BTM) generators such as rooftop solar. Encouraging the demand side to operate and manage BTM generators has the benefit of lowering capital and management costs while increasing grid reliability. In California, the state's Net Energy Metering (NEM) 1.0 and 2.0 programs have enabled rapid deployment of rooftop solar, and the recent NEM 3.0 program is sending price signals to incentivize integrated installations with battery storage. In Korea, it is reasonable to induce an increase in the penetration of BTM generators through retail rate compensation levels such as California's NEM 1.0 or 2.0, but to take demand-side measures by establishing a compensation system that can send appropriate price signals to users of BTM generators to control volatility, such as the 3.0 system.

Quantifying Benefit of Well-Located Distributed Energy Resources

This study quantifies the system-level benefits of well-located Distributed Energy Resources (DERs) by addressing the mismatch between generation and demand locations. Using Monte Carlo simulations combined with transmission expansion planning and AC optimal power flow models, it evaluates both long-term and short-term impacts of DER deployment. The findings show that strategically locating DERs can significantly reduce transmission investment, congestion, and loss costs, leading to more efficient and cost-effective power system planning.

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.

Nation-wide Benefit Estimation of Non-Wire Alternative with Storage using Two-dimensional Distribution Network Expansion Model

Many distribution utilities adopted a connect-and-forget principle for connection of new distributed energy resources. If reinforcement work of distribution facilities is blindly carried out in order to accept the intermittent DER with the conventional connection scheme, it will cause the cost-ineffective results in distribution system planning for building low carbon power system. Although the quantitative evaluation of non-wire alternatives has been studied for small regions or test distribution networks in literature, it has been less studied in terms of nation-wide distribution networks. We covered the limitation such as the uncertainty and complexity in topology of nation-wide distribution networks and evaluated the benefit of storage as a non-wire alternative by building the two-dimensional distribution network expansion model based on Monte-Carlo simulation.

Optimal Sourcing Strategy for Enterprises to Achieve 100% Renewable Energy: The Case of South Korea

RE100 is a voluntary campaign for global companies to use 100% renewable energy in their business and production processes. Many global companies participating in RE100 have adopted various approaches for renewable energy sourcing. There is increasing awareness that global companies cannot indefinitely avoid participating in the RE100 campaign, however, there has been limited research on economically achieving RE100. This paper provides an optimal strategy for companies to source renewable energy from the electricity market of the Republic of Korea to economically achieve RE100 in the future. The approaches for meeting energy demands with renewable electricity are analyzed, and a feasible sourcing strategy is presented.