• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.22 no.4
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• pp.13-18
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• 2008

The global warming due to greenhouse gases is now the hottest issue all over the world. The world has been under $CO_2$ war since the Kyoto Protocol was opened for signature on December 11, 1997 in Kyoto, Japan. The Kyoto Protocol now covers more than 164 countries globally as of July 2006. Countries that ratify this protocol commit to reduce their $CO_2$ emissions, or engage in emissions trading. Korea is also expected to obey the Protocol starting in 2013, which will give a serious shock especially to the electric power industry. The power plants burning the fossil fuel produce more than 20 percent of national total $CO_2$ emission. This paper resents the calculation of the amount and cost of $CO_2$ emission w.r.t. generator MW output and its application to power system operation. The $CO_2$ emission function is derived using the input-output coefficients of the thermal power plants. The optimal power system operation considering $CO_2$ emission and its cost is demonstrated on a five-bus sample power system.

• Environmental and Resource Economics Review
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• v.20 no.4
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• pp.689-733
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• 2011

This study evaluates a novel scheme to trade sulfur dioxide emission permits subject to non-uniform rates. These rates are based on generators' marginal costs of compliance with environmental policy in a hypothesized least social-cost solution. This scheme is compared against the existing trading program used by the U.S. Environmental Protection Agency, featuring permits tradable one for one. Both policies are modeled to yield identical aggregate emissions. A numerical partial-equilibrium model of the U.S. energy industry is used to infer sulfur dioxide concentrations and health damages, as well as producer and consumer surplus, under the two policies. Regional pollution levels are found to vary across the two policies significantly. The system of exchange rates is estimated to outperform the uniform-trading scheme by $2.2 billion in industry profits and $2.1 billion in health damages, but to reduce consumer surplus by $6.7 billion. Paradoxically, exchange rates are thus estimated to lower total welfare by $2.5 billion. This is due to conceptual mechanism-design problems, as well as empirical issues.

• Environmental and Resource Economics Review
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• v.27 no.4
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• pp.667-694
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• 2018

We analyze the learning-by-doing effects of the allowance pricing system on the Korea's emission trading scheme. The price of allowance (Korean Allowance Unit) is influenced differently by internal market factors and economic conditions variables in the first (January 2015 to June 2016 ) and the second commitment year(January 2016 to June 2017). The prices and transaction volumes of complementary credits (KCU and KOC) as well as economic conditions variables (such as call rate, exchange rate, stock price) are statistically significant only for the second commitment year. Thus, the learning-by-doing effect makes the market participation decision on K-ETS market more efficient in the second commitment year, adopting the previous experience and knowledge in the K-ETS market. The factors estimated significantly in both commitment periods include the institutional binary variable for requiring the submission of the emissions verification reports issued both on February and March.

• Environmental and Resource Economics Review
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• v.31 no.1
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• pp.51-83
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• 2022

Renewable Portfolio Standards (RPS), one of the most commonly adopted regulation for renewable energy expansion since 2012, has the obvious advantage of inducing competition in power generation source and alleviating the government's financial burden. However, the abuse of credit multipliers and the use of national Renewable Energy Credits (RECs) have resulted in the distortion of RPS as a quantitative control policy. Just as no face value 10 years ago can hold its real value, this paper highlights for the first time that 27.8% of total renewable obligations over the total RPS period were not actually met due to REC inflation and the consequent decline in the value of renewable energy generation. In addition, the distortion of face/real value of REC causes problems in interoperability with other government policies such as RE100 and Emission Trading System.

• Transactions of the Korean hydrogen and new energy society
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• v.34 no.3
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• pp.235-245
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• 2023

Techno-economic analyses on a 5-MW water electrolysis system for hydrogen production, operated in Jeju Island where the portion of renewable energy in the power grid is the highest in Korea, have been performed. The cost of hydrogen production and the economic feasibility of the hydrogen production system have been mainly analyzed based on the levelized-cost-of-hydrogen model. The effects of carbon emission trading and renewable power purchase method have been considered to reduce the cost of green hydrogen production in the case studies. This economic analysis model is expected to be used to derive a business model for green hydrogen production.

• Management & Information Systems Review
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• v.33 no.3
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• pp.93-104
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• 2014

This study investigates price discovery between BlueNext spot and futures in EU ETS carbon emission markets using vector error correction model, GG and Hasbruck information ratio. Especially EUA is European Union Allowances traded on the Emissions Trading Scheme. This emission asset attracts and increasing attention among operators, investors and brokers on emission markets. In this study, we found BlueNext spot and EUA futures market are cointegrated. Following the preceding studies, we judged that EUA futures market contribute to the price discovery process than BlueNext spot market when this GG and Hasbrouck information ratio for BlueNext market are larger than 0.5. In other words, the futures market of EUA plays a more dominant role in price discovery than the spot market.

• Journal of Korean Society of Environmental Engineers
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• v.39 no.12
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• pp.672-678
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• 2017

In this study, municipal solid waste (MSW) has collected 3 times and physico-chemical analysis has done. Nitrous oxide emissions from MSW incineration plant were measured continuously by EPA Method 18 and it was compared with the emission by calculation using the emission factor. The $N_2O$ emission of MSW incineration plant was more than twice as large as the emission by calculation. It was found that the installation of abatement facilities in MSW incineration plant is effective in achieving the greenhouse reduction targets and it can be ensure economical efficiency through emission trading system.

• Journal of Korean Society for Atmospheric Environment
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• v.28 no.5
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• pp.527-537
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• 2012

The increasing consumption of pseudo-petroleum products (PPP) has been disturbing the national petroleum market. The use of PPP lead to tax evasion, disturbance of sound trading principles, component corrosion of cars, and explosion accident. Also, PPP have emitted hazardous air pollutants (HAP) including the carcinogenic aromatic hydrocarbons, PAHs and aldehydes more than regular-petroleum products. It thus has potentials to cause many environmental and health care problems. In this study, benzene, toluene and xylene emissions from road transport vehicles due to the use of pseudo-gasoline are estimated for the year 2008. The results of our study provide emission estimates of benzene, toluene and xylene for the year as 405, 1,711, 717 tonne/yr, respectively for regular-gasoline. BTX emissions are calculated as 452~515, 1,882~2,264 and 732~752 tonne/yr when the amount of pseudo-gasoline is estimated to account for 6~13% for regular-gasoline consumption. BTX emissions increased as much as 12~27, 10~32, 2~5% by using pseudo-gasoline. It is found that the pseudo-gasoline should be the key component to produce HAP in urban area.

• Proceedings of the KIEE Conference
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• 2006.07a
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• pp.420-421
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• 2006

The cost-effective reduction of greenhouse gas(GHG) emission to avert the most severe impacts of climate change remains one of the widely accepted priorities for global action. In order to facilitate cost-effective abatement strategies, the Kyoto Protocol introduced three mechanisms, or flexible instruments, the Emissions Trading(ET), the Joint Implementation(JI) and the Clean Development Mechanism(CDM). The CDM enables Annex I countries to the Kyoto Protocol to partially meet cost-effectively their emission reduction commitments by undertaking GHG mitigation Projects in developing countries, which do not have any GHG abatement obligations and where the emission reductions are cheaper. One of the major barriers hampering the wide spread implementation of CDM is the high transaction costs associated with the initial identification of promising CDM projects. This paper presents development of a pre-validation program of CDM. The developed program may provide a useful aid to potential investors and project developers as a supportive pre-evaluation tool, and may become an effective tool for the promotion of renewable energy and fuel switching projects.

• Journal of the Korean Society for Aviation and Aeronautics
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• v.21 no.4
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• pp.62-70
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• 2013

As the aviation industry looks to the future, fuel saving and $CO_2$ emission reduction play a dominant role in meeting the business challenges presented by global financial uncertainty. The IATA and International Government effort to save fuels, and then save 4 billion gallons of fuel burned, while reducing $CO_2$ emissions by 34 million tons. The various reduction methods adapted airlines and airports. We focused on optimized flight operation procedures for saving fuel and reduction emission cases. IATA and Canada government research reports focused on four methods that Engine Core Washing, Portable Water Management, Single Engine Taxi, APU limit operation. Apply to domestic airlines fuel data, Engine Core washing was saving more than Twenty-four thousand tons $CO_2$ emissions.