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http://dx.doi.org/10.15266/KEREA.2021.30.2.325

The Analysis of the Potential Effects of Energy Conversion Policy Considering Environment  

Lee, Myunghun (Department of International Trade, Inha University)
Publication Information
Environmental and Resource Economics Review / v.30, no.2, 2021 , pp. 325-345 More about this Journal
Abstract
In this paper, we empirically evaluate the potential performance of energy conversion policy and analyze its effects on power generation sector. We first examine the degree of substitutability between energy inputs by measuring the price elasticities of energy demands and then estimate the changes in CO2 generation when the proportions of nuclear power plants and renewable power generation are increased. The shadow prices of nuclear power and renewable energy are calculated to compare the potential costs of power generation between the two energy sources. We analyze the impacts of the expansion of nuclear power plants and renewable power generation on power supply price. Nuclear and renewable energy were measured to be complementary to each other. The expansion of nuclear power plants has been more effective in reducing CO2 emissions than increasing renewable power generation. In most years over 2002 to 2016, the impact of nuclear power expansion on the power supply price was generally higher than that of renewable power generation, with relatively large range of fluctuations.
Keywords
Energy Conversion Policy; Input Price Elasticity; Net $CO_2$ Change; Power Supply Price;
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