• Clean Technology
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• v.26 no.4
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• pp.239-250
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• 2020

Biomass is an abundant renewable energy resource that can replace fossil fuels for the reduction of greenhouse gas (GHG). Indonesia has a large number of cheap biomass feedstocks, such as reforestation (waste wood) and palm residues (empty fruit bunch or EFB). In general, raw biomass contains more than 20% moisture and lacks calorific value, energy density, grindability, and combustion efficiency. Those properties are not acceptable fuel attributes as the conditions currently stand. Recently, torrefaction facilities, especially in European countries, have been built to upgrade raw biomass to solid fuel with high quality. In Korea, there is no significant market for torrefied solid fuel (co-firing) made of biomass residues, and only the wood pellet market presently thrives (~ 2 million ton yr-1). However, increasing demand for an upgraded solid fuel exists. In Indonesia, torrefied woody residues as co-firing fuel are economically feasible under the governmental promotion of renewable energy such as in feed-in-tariff (FIT). EFB, one of the chief palm residues, could replace coal in cement kiln when the emission trading system (ETS) and clean development mechanism (CDM) system are implemented. However, technical issues such as slagging (alkali metal) and corrosion (chlorine) should be addressed to utilize torrefied EFB at a pulverized coal boiler.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.66 no.2
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• pp.347-353
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• 2017

In order to prohibit global warming, various kinds of regulatory policies have been established in the whole world. One example is the establishment of the Renewable Portfolio Standard. It requires the increased portion in energy production from renewable energy sources. The Republic of Korea adopted the act on the promotion of the development, use, and diffusion of new and renewable energy since 2012. However, in spite of the effort on the consideration of the renewable energy sources, it was reported the carbon intensity of electricity in Korea was not that low in 2015. Thus, it is required to examine the recent state of the utilization degree of the renewable energy sources in Korea. This paper analyzed the statistical data provided by Korea Power Exchange (KPX) to examine any problems and solutions for generating electricity from the renewable energy sources. We focused on the generation capacity provided by the power plants participated in the market, the electric power trading amount, and the utilization coefficient for 10 years. By analyzing the data, we provide an alternative to solve some imbalance among the factors contributing to renewable energy use.

• Journal of Energy Engineering
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• v.8 no.2
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• pp.203-212
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• 1999

The Republic of Korea is actively constructing and operating nuclear power plants and will maintain the nuclear energy program in spite of the current stagnation of nuclear industries in advanced countries. The significant role of Korea in the world economy is well recognized as Korea became a member of OECD. The Korean economy is rated as the eleventh largest in the world. Korea is a very important customer in the world nuclear market and is also regarded as a potential future supplier. However, the domestic and international environment for globalization of the Korean nuclear industry is not well established. This is mainly due to the past nuclear policy which has emphasized technological self-reliance with less attention to the international politics and trading. Under this background, this paper suggests the strategies for promoting the nuclear trade and expanding the influence in the decision making process of international nuclear community.

• Journal of Energy Engineering
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• v.29 no.3
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• pp.86-90
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• 2020

This paper examines a blockchain network-based transaction system using location proofing in power direct transactions between networked energy clouds, energy communities, and prosumer machines participating in smart cities. It utilizes location-based blockchain network technology, which enables long-distance travel with recharging by power purchases during autonomous movements, autonomous electric vehicles that can purchase and sell electricity, and solar street lights that can be produced and sold in fixed form. In addition, it is possible to provide optimum power transaction matching and settlement reliability between machines without human intervention in power transactions between electric chargers. It also introduces a business-to-object business model between autonomous machines that exist in multiple and different spaces and through energy clouds that are expected to be scattered with various transaction prices, policies, and incentives.

• Journal of IKEEE
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• v.19 no.3
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• pp.295-303
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• 2015

Considering to Energy Storage System (ESS) is a global trend In order to reduce global warming and carbon emissions. South Korea has announced various policies to vitalize the development and uptake of renewable energy. South Korea is planning the cumulative capacity of ESS of two million kW in 2020. According to the government support and development of technology companies, the battery of ESS prices are expected to fall gradually. In this paper, we develop a planning model that take into account the supply expansion of technology of ESS and prices. Based on planning model, we analyze the cost of ESS linked with wind power and the revenue for trading electricity and renewable energy certifications.

• Environmental and Resource Economics Review
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• v.23 no.4
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• pp.747-784
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• 2014

Many countries have implemented a variety of climate and energy policies to reduce greenhouse gas emissions and expand renewable energy production. The ultimate goals of those policies are associated with transition to a low-carbon economy that aims to combat climate change and economic growth. This study aims to examine empirically if the countries which implement overlapping climate policies and renewable energy policies show additional reduction of the GHG emissions than the countries which implement single climate or renewable energy policy. The result shows that overlapping policies contribute to reduce additional GHG but not all cases. In particular, only overlapping policies mixing 'ETS and RPS(renewable portfolio standards)' and 'Carbon Tax and FIT(Feed-in Tariff)' can lead to additional reduction of GHG emissions.

• Journal of Digital Convergence
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• v.15 no.7
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• pp.41-53
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• 2017

This study focuses on the current state of Smart Grid policy in Japan and its problems while the interest in Smart Grid has been increasing since the March 2011 earthquake in East Japan. As a result of the analysis, Japan introduced the fixed price buying system of new and renewable energy in response to the power supply and demand problem caused by the 2011 earthquake in East Japan, and established a decentralized green electricity trading market in which electricity generated from new and renewable energy is traded Smart Grid-related projects were implemented as a solution to solve energy crisis and environmental problems at the same time. As a result, we achieved visible results such as suppressing peak power, reducing CO2 emissions, and securing stable supply and demand of energy using renewable energy sources. On the other hand, the improvement of current Smart Grid policy operation in Japan and the introduction of stabilization system of power system, promotion of international standards of domestic technology related to smart grid, and support for strengthening security of smart grid.

• Environmental and Resource Economics Review
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• v.22 no.4
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• pp.759-784
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• 2013

Participants can use the allowances and offsets for implementing the compliance in the Emissions Trading Scheme(ETS). There are alternative commodities which are different prices it gives the opportunities to reduce the compliance costs and get the arbitrage. This study analyzes the price driver of spread which is the difference between EUA and sCER using AR-GARCH model, EUA and CER during the Phase 2 in EU ETS. The results show that there are common elements which impacts the EUA and sCER and also different elements between them. EUA and sCER get the effects from energy price and economic criteria such as coal price and financial crisis as common elements. However them get the effects from electric price, policy criteria such as restricted CERs and difference price between EUA and ERU price as different elements. The results shows that spread will be widen if energy price increase, especially oil and electric price give more impacts the spreads. This study has the means that it explains the reason why the spreads will broaden sharply in 2012. And it also suggests the price driver of spread during the whole period of Phase 2. In addition, this study shows that political aspects maybe become the main criteria of price change with structural elements shch as energy price in Korea ETS which starts in 2015.

• Journal of Korea Port Economic Association
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• v.25 no.1
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• pp.63-86
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• 2009

With increasing uncertainty of energy market in the world, the policies for the energy resource security have become crucial Several countries with poor energy resource like Netherlands and Singapore have pursued the policy for becoming an oil hub in the region. Singapore has been an oil hub in East Asia for a long time not only because it is well located with a large number of countries exporting and importing oil but it has also pursued strong policies to become an oil hub while establishing favourable institutional, regulatory and business environment for accommodating major refineries and petro-chemical companies. However with growing trading volume of petroleum products in Northeast Asia and a record high price of oil in these days, the necessities of another oil hub in the region are considered in order to reap benefits of the security of economical and stable oil. South Korea is situated astride the main North Pacific shipping route, with deep water ports and proximity to Chinese and Japanese industrial centres that make tank terminal operators Ideal choices for the oil hub in Northeast Asia although it has several disadvantages such as lack of independent storage facilities, underdeveloped oil trading market and unfavourable business friendly climates etc. This study is focused on examining the globalization strategies of tank terminal operators such as Vopak, Oiltanking and Odfjell in order to suggest the policy implications for becoming an oil tub in Northeast Asia.

• Korea Trade Review
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• v.48 no.4
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• pp.189-208
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• 2023

This paper analyzed the dynamic conditional correlation between the Korean ETS market, energy market and stock market. This paper conducted an empirical analysis using daily data of Korea's carbon credit trading price, WTI crude oil futures price, and KOSPI index from February 2, 2015 to December 30, 2021. First, the volatility of the three markets was analyzed using the GARCH model, and then the dynamic conditional correlations between the three markets were studied using the bivariate DCC-GARCH model. The research results are as follows. First, it was found that the Korean ETS market has a higher rate of return and higher investment risk than the stock market. Second, the yield volatility of the Korean ETS market was found to be most affected by external shocks and least affected by the volatility information of the market itself. Third, the correlation between the Korean ETS market and the stock market was stronger than that of the WTI crude oil futures market. This paper analyzed the correlation between the Korean ETS market, energy market, and stock market and confirmed that the level of financialization in the Korean ETS market is quite low.