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Policy mix of renewable portfolio standards, feed-in tariffs, and auctions in South Korea: Are three better than one?

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  • Kwon, Tae-hyeong

Abstract

This study examines the effects of policy mix supporting electricity from renewable energy sources (RES-E) in South Korea. South Korea relies on a renewable portfolio standard as the main support scheme along with a feed-in tariff and long-term supply contract auctions as complementary schemes to support RES-E. This study investigates whether there is synergy among RES-E support policies. It also investigates how the policy mix affects RES-E markets. Although this study only focuses on a particular case of Korea, a policy mix generally can be an effective way to overcome the drawbacks of a single policy instrument in supporting RES-E.

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  • Kwon, Tae-hyeong, 2020. "Policy mix of renewable portfolio standards, feed-in tariffs, and auctions in South Korea: Are three better than one?," Utilities Policy, Elsevier, vol. 64(C).
    • Handle: RePEc:eee:juipol:v:64:y:2020:i:c:s0957178720300515
    DOI: 10.1016/j.jup.2020.101056
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    5. del Río, Pablo & Kiefer, Christoph P., 2023. "Academic research on renewable electricity auctions: Taking stock and looking forward," Energy Policy, Elsevier, vol. 173(C).
    6. Ying, Zhou & Xin-gang, Zhao, 2021. "The impact of Renewable Portfolio Standards on carbon emission trading under the background of China’s electricity marketization reform," Energy, Elsevier, vol. 226(C).
    7. Youngjin Kim & Yeongjae On & Junyong So & Sumin Kim & Sojung Kim, 2023. "A Decision Support Software Application for the Design of Agrophotovoltaic Systems in Republic of Korea," Sustainability, MDPI, vol. 15(11), pages 1-17, May.
    8. Kim, Chul, 2021. "A review of the deployment programs, impact, and barriers of renewable energy policies in Korea," Renewable and Sustainable Energy Reviews, Elsevier, vol. 144(C).
    9. Song, Xiao-hua & Han, Jing-jing & Zhang, Lu & Zhao, Cai-ping & Wang, Peng & Liu, Xiao-yan & Li, Qiao-chu, 2021. "Impacts of renewable portfolio standards on multi-market coupling trading of renewable energy in China: A scenario-based system dynamics model," Energy Policy, Elsevier, vol. 159(C).
    10. Yuehong Lu & Zafar A. Khan & Manuel S. Alvarez-Alvarado & Yang Zhang & Zhijia Huang & Muhammad Imran, 2020. "A Critical Review of Sustainable Energy Policies for the Promotion of Renewable Energy Sources," Sustainability, MDPI, vol. 12(12), pages 1-31, June.

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