• Environmental and Resource Economics Review
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• v.14 no.2
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• pp.493-518
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• 2005

It has been taken for 10 years since Climate Change Convention could it be made. And Kyoto Protocol will come into force as an international law as from 16. Feb 2005. As based on it, Annex I countries will implement their mitigation projects on GHG reductions and press developing countries on GHG reduction target. Korea has not duty target on it yet. But it will be held a COP(Conference of Party) on negotiation for reduction target of second commitment period. If Korea has a real duty, Industry sector should reduce GHG emissions. Then Market mechanism will be need to introduce for this. This study started having a question "Is it possible to introduce emissions trading in Korea?". To solve the problem, this study analysed GHG emissions, marginal abatement cost, market price with 11 companies of industry (about 36% of Korea emissions). minus target is impossible to implement reduction target ver base year (2002). And emissions trading scheme also can't make the market without additional policy and measures. This study suggest that it is need to import credits and give a subsidy of government to encourage it. The imported credit can reduce the demand curve within the marginal abatement cost curves. But the effectiveness of credit is not the same as continually growth. As a result, Allowing 40% credit into emissions trading market is the best to reduce costs. However, a subsidy is the little bit difference. A subsidy make marginal abatement cost curves down for itself. Giving 30% for subsidy, it is the best. Considering both of importing credits and subsidy, it is the best effects in the reducing cost for company. especially 30% is the best effects respectively. This Study show that government wants to consider designing emissions trading, encourage participants competitiveness, and encourage the early action, government has to allow credit trading and give a subsidy to participants.

• 한국신재생에너지학회:학술대회논문집
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• 2005.11a
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• pp.363-372
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• 2005

최근 고유가상황 및 에너지소비가 증대되는 사회적 분위기와 환경적 변화에 힘입어 대체에너지기술개발에 대한 절실한 대책마련이 중요시 되고있다. 기후변화협약의 발효로 환경에너지에 대한 새로운 인식의 필요로 에너지체제의 변환이 촉구되어지고 있으며 이에 따른 환경친화적 에너지자원을 이용한 신 재생에너지개발에 대한 연구개발기술이 관심을 받고 있다. 현재 사용중인 화석연료는 환경오염 및 지구의 온난화 현상 등 심각한 공해문제를 야기시키고 있는 반면에 태양에너지와 같은 청정에너지의 개발은 환경오염방지와 친환경에너지자원의 활용이라는 점에서 관심이 대상이 되고 있고 특히, 우리나라의 경우 에너지수입 의존율이 97%로 높은 상황에서 국가에너지대책을 수립하고 해외수입에너지 의존율을 최소화시키기 위하여 가히 필수적인 상황이다. 따라서, 본 실증연구사업(태양열 이용 Hybrid냉난방시스템 실증연구)은 태양열 집열기에서 생산된 저온의 $20\sim30^{\circ}C$의 승온된 양질의 열원을 히트펌프 증발기 열원으로 이용 히트펌프의 압축동력이 상대적으로 작아져 기존 히트펌프 시스템에서의 성적계수(COP)를 높여 주는 효과를 기대할 수 있고, 특히 하절기 복사량이 많은 시기에는 $50\sim60^{\circ}C$ 정도로 승온되어진 중 고온수를 직접 온수탱크로 이동시켜 필요수요처에 공급함으로써 이에 따른 에너지절감효과를 기대할 수 있다. 구축된 태양열 이용 하이브리드(Hybrid)냉난방시스템은 계절별, 설비별 특성을 적절히 활용하여 연평균 집열기 효율은 70%수준으로 유지하면서, 계절별 성적계수는 '4'수준을 목표로 하여 추진되었으며, 그간, 태양열 이용 보급분야의 실용화는 주로 건물의 급탕용 온수생산의 수준에 머물렀으나 이 단계를 극복한 건물의 냉 난방 및 급탕을 위한 태양열 및 공기열원을 활용한 하이브리드(Hybrid)냉난방 시스템 구축하였다. 아울러, 태양열 이용 하이브리드 냉난방 히트펌프 시스템 실증 실험은 유가상승과 신재생에너지에 대한 국가적 분위기 고취로 어느때 보다도 개발기술의 상용화 및 실용화적 측면의 염두와 태양열 이용 Hybrid냉난방 시스템의 효율향상과 저가화를 통해 기술의 경제성과 신뢰성을 확보하여 태양열 이용 시스템의 보급활성화를 목표로 하고 있다.

• KEPCO Journal on Electric Power and Energy
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• v.2 no.4
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• pp.517-523
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• 2016

South Korea is the 8th biggest greenhouse gas emitter in the world due to its phenomenal economic growth based on manufacturing, and it is ranked first among OECD members for the rate of increase in emissions. Thus, the Korea government has voluntarily presented a reduction target and demonstrated global leadership. For the reduction of nation's GHG emission, importance of CCU(Carbon Capture and Utilization) along with CCS(Carbon Capture and Storage) technology development is increased. CCU technology is $CO_2$ utilization technology for the usage of $CO_2$ from flue gas and it can create a new economic value while reducing $CO_2$ emission. Therefore, with continued technology development, the number of application of CCU technology is increasing globally.

• Korean Journal of Construction Engineering and Management
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• v.16 no.2
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• pp.65-76
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• 2015

The Clean Development Mechanism (CDM) is the multi-lateral 'cap and trade' system endorsed by the Kyoto Protocol. CDM allows developed (Annex I) countries to buy CER credits from New and Renewable (NE) projects of non-Annex countries, to meet their carbon reduction requirements. This in effect subsidizes and promotes NE projects in developing countries, ultimately reducing global greenhouse gases (GHG). To be registered as a CDM project, the project must prove 'additionality,' which depends on numerous factors including the adopted technology, baseline methodology, emission reductions, and the project's internal rate of return. This makes it difficult to determine ex ante a project's acceptance as a CDM approved project, and entails sunk costs and even project cancellation to its project stakeholders. Focusing on hydro power projects and employing UNFCCC public data, this research developed a prediction model using logistic regression and CART to determine the likelihood of approval as a CDM project. The AUC for the logistic regression and CART model was 0.7674 and 0.7231 respectively, which proves the model's prediction accuracy. More importantly, results indicate that the emission reduction amount, MW per hour, investment/Emission as crucial variables, whereas the baseline methodology and technology types were insignificant. This demonstrates that at least for hydro power projects, the specific technology is not as important as the amount of emission reductions and relatively small scale projects and investment to carbon reduction ratios.

• Applied Chemistry for Engineering
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• v.19 no.1
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• pp.17-26
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• 2008

With the effectuation of Kyoto Protocol on the United Nations Framework Convention on the Climate Change, the emission reduction of greenhouse gases became an urgent issue and has been competitively secured among countries as the form of certificates through clean development mechanism (CDM) or joint implementation (JI). Nitrous oxide ($N_2O$) is one of the major greenhouse gases along with carbon dioxide ($CO_2$) and methane ($CH_4$) having warming potential 310 times that of carbon dioxide and chemically very stable in the atmosphere to give a life time of more than 120 years so that it reaches to the stratosphere to act as an ozone depleting substance. $N_2O$ hardly decomposes and thus, besides to the adoption of thermal decomposition at high temperature, selective catalytic reduction methods are usually used at temperatures over $400^{\circ}C$ in which the presence of NOx acts as a major impeding material in the decomposition process. In this article, the sources of various $N_2O$ generation, catalytic reduction processes and the status and trends of emission trade with CDM projects for greenhouse gas reduction are summarized and discussed on a condensed basis.

• Clean Technology
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• v.2 no.1
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• pp.32-43
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• 1996

The interactions of the societal-industrial system with the environment form one of the most critical issues in today's world. The inadequacy of current environmental regulatory structures and of traditional ways of analyzing environmental issues, together with the continuing need to mitigate the environmental perturbations arising from this complex relationship, have led to the development of a new conceptual framework termed industrial ecology. Industrial ecology (IE), defined by Graedel and Allenby, is the means by which humanity can deliberately and rationally approach and maintain a desirable carrying capacity, given continued economic, cultural and technological evolution. The concept requires that an industrial system be viewed not in isolation from its surrounding systems, but in concert with them. IE is a systems view in which one seeks to optimize the total materials cycle from virgin material, to finished material, to component, to product, to obsolete product, and to ultimate disposal. Factors to be optimized include resources, energy, and capital. In the present paper, the concept of Industrial Ecology and its application through efficient and practical Design for Environment (DFE) methodologies and tools will be introduced to Korea. This paper will also emphasis on the industrial environment within which DFE methodologies must be used, including the fundamentals of industrial design activities, concurrent engineering, constraints on design choices and existing technological infrastructure.

• Korean Journal of Construction Engineering and Management
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• v.15 no.1
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• pp.111-121
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• 2014

The Clean Development Mechanism (CDM) allows New & Renewable Energy projects to make additional income by selling CER's, which represent the amount of Green House Gases(GHG) that is reduced in the project. However, forward contracts used to hedge fluctuating market prices does not allow projects to sell CER's at a premium. As an alternate approach to maximize CER revenue, CER's are modeled as a 'real option', in which CER's are sold only above the desired sales price. Using the Binomial Option Pricing model, the resultant lattices are used to determine whether to sell, defer or abandon the option at individual nodes. Overlaying Pascal's Triangle on the lattices also enabled the calculation of the annual probabilities for deferring CER sales without incurring downside losses. Application to an actual Landfill Gas project showed increased overall NPV, and that CER sales could be deferred at a maximum of 2 years. The proposed framework allows transparency in the analysis and provides valuable and strategical information when making investment decisions related to CER sales of CDM projects.

• Journal of Energy Engineering
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• v.18 no.2
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• pp.132-135
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• 2009

Development of biofuels like ethanol and biodiesel for commercial uses is a recent phenomenon. However, the growth of ethanol and biodiesel has been impressive during the period 2000-2007yr. Globally, production of biodiesel stands around 8.3 billion liters. Europe leads the world in biodiesel production with 80% share of the global biodiesel production total. Today biodiesel fuels have been in commercial use in many countries and recently the world-wide biodiesel market has experienced considerable growth, which is partly due to various tax concession programs and other financial incentives. In Korea, biodiesel has already been used for transportation fuel, but not used for power generation fuel yet. Korean government has a strategy for renewable energy propagation, especially the goal of power generation amount by renewable energy is 3% of total power production by 2012. This paper focuses on the estimation study for effect of using biodiesel as power generation fuel. The study also has the plan to replace the fuel of thermal power plant, gas turbine and distributed power generation system. As the increase of biodiesel fuel, I look forward to environment-friendly power generation and the strategy of Renewable Portfolio Standards(RPS).

• Environmental and Resource Economics Review
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• v.23 no.2
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• pp.157-185
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• 2014

The Kyoto Protocol has extended its life until 2020 by the decision at COP18 in Doha, Qatar in 2012. So has the Kyoto Mechanism of CDM, JI, and ETS. Nonetheless, the sustainability of CDM projects is jeopardized by the recent rule changes in the international emissions trade market such as EU ETS and the price decrease in emission credits. In particular, the domestic CDM projects reducing non-$CO_2$ GHG emissions are being directly affected. This study examines the trend of carbon credit price change in the international market. It also examines how the rule changes in the international emissions trade market have affected domestic non-$CO_2$ CDM projects through which mechanisms. The policy implications drawn from this study is two-fold: it suggests how the government can assist the project developers in utilizing GHG emission reduction technologies and the market in promoting investment environment before the domestic ETS enters into effect in 2015; apart from possible measures within ETS, an additional measures such as bilateral carbon offset system is suggested to help the private sector reduce uncertainty in investment and increase options to choose.

• Korean Journal of Construction Engineering and Management
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• v.14 no.3
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• pp.123-133
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• 2013

Green infrastructure projects have the potential to reduce global warming and deliver sustainable energy solutions. Recently, the construction industry has been expanding their portfolios in New and Renewable (NRE) projects. However, the economic feasibility of NRE projects have not been validated and construction companies are not acquainted with their associated risks. This research performed a two-tiered feasibility study of the domestic projects registered for CDM in the UNFCCC. The first phase involved calculating the average IRR and NPV of the domestic CDM projects, which showed that their profitability to be very low. In the second phase, four NRE projects (Solar, Wind, Hydro, Landfill Gas) were selected and additional income generated from Feed-in-Tariff and CER sales were added to determine the improvements in the projects' IRR and NPV. Results indicate that Solar and Landfill Gas projects benefited the most from the two support mechanisms, while benefits to Wind and Hydro projects were minimal. While the Landfill Gas project had the highest IRR, the Wind project was the most investment attractive due to its NPV and minimal dependency on FiT and CER sales. Construction companies should enter into NRE projects with a long term view as related technologies mature.