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http://dx.doi.org/10.7849/ksnre.2021.0009

Study on the Development of an Evaluation Index for the Local Economy Activation of Community Investment Renewable Energy Projects  

Im, Hyunji (Green Energy Strategy Institute)
Yun, Seonggwon (Green Energy Strategy Institute)
Yoon, Taehwan (Rootenergy)
Kim, Yunsoung (Green Energy Strategy Institute)
Publication Information
New & Renewable Energy / v.17, no.2, 2021 , pp. 9-23 More about this Journal
Abstract
In Korea, various community investment renewable project models are being implemented to increase community acceptance of renewable energy. An important factor for enhancing local acceptance is that renewable energy projects have a positive effect on revitalizing the local economy such as income increase or job creation for residents and local companies. To maximize the local economic effect of large-scale community investment renewable energy projects, this study developed an evaluation index for local economy activation, whose indicators are the local return on investment, local companies' participation, local job creation, regional cooperation, transparency, and governance. Analysis of existing evaluation indicators and current renewable projects, financial analysis, and expert interviews were used in this research. The pilot evaluation determined that, the local economic effect was high in the following order: a fund investment wind project (Gangwon), benefit-sharing wind project (Jeju), and general wind project. In particular, residents' investment amount, the number of participating residents, and the amount and transparency of the regional cooperation fund were key factors to expand the effect of local economy activation. This evaluation index could be used in public bidding for renewable energy projects such as offshore wind zoning areas of local government.
Keywords
Renewable energy; Local economy; Community investment; Evaluation index; Community acceptance; Benefit sharing;
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  • Reference
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