scholarly journals Economic Effects of Renewable Energy Expansion Policy: Computable General Equilibrium Analysis for Korea

2020 ◽  
Vol 17 (13) ◽  
pp. 4762
Author(s):  
Inha Oh ◽  
Wang-Jin Yoo ◽  
Kihwan Kim
Keyword(s):  
Power Generation ◽  
Renewable Energy ◽  
General Equilibrium ◽  
Computable General Equilibrium ◽  
Ghg Emissions ◽  
Equilibrium Analysis ◽  
Funding Source ◽  
Power Sources ◽  
Energy Expansion ◽  
Expansion Policy

This study examines the effects of renewable energy expansion policy on the Korean economy and industries using the computable general equilibrium model, which divides the power generation sector into detailed generation technologies and sources. The scenarios are set to observe the cases where the share of solar photovoltaic and wind power generation reaches 7%. The effects are examined according to differing circumstances, such as when greenhouse gas (GHG) emissions are regulated, and the funding source for renewable expansion varies. The results show that renewable expansion policies have negative effects on GDP. However, the magnitude of the GDP decline becomes smaller when GHG emissions are regulated. The expansion of renewable energy induces the growth of upstream industries which supply components for renewable generation modules. Regarding employment, the renewable expansion policy can increase the demand for labor. However, the direction and the extent of the effect vary depending on the funding source. When overlapping regulations, such as the emission trading scheme and renewable energy expansion policies, exist in the power generation sector, the renewable energy expansion policy could provide incentives for GHG emission-intensive power sources.

scholarly journals Potential of Utilization of Renewable Energy Technologies in Gulf Countries

2021 ◽  
Vol 13 (18) ◽  
pp. 10261
Author(s):  
J. Sadhik Basha ◽  
Tahereh Jafary ◽  
Ranjit Vasudevan ◽  
Jahanzeb Khan Bahadur ◽  
Muna Al Ajmi ◽  
...  
Keyword(s):  
Power Generation ◽  
Renewable Energy ◽  
United Arab Emirates ◽  
Renewable Energy Sources ◽  
Gas Production ◽  
Energy Sources ◽  
Nonrenewable Resource ◽  
Gulf Region ◽  
Renewable Sources ◽  
Power Sources

This critical review report highlights the enormous potentiality and availability of renewable energy sources in the Gulf region. The earth suffers from extreme air pollution, climate changes, and extreme problems due to the enormous usage of underground carbon resources applications materialized in industrial, transport, and domestic sectors. The countries under Gulf Cooperation Council, i.e., Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, mainly explore those underground carbon resources for crude oil extraction and natural gas production. As a nonrenewable resource, these are bound to be exhausted in the near future. Hence, this review discusses the importance and feasibility of renewable sources in the Gulf region to persuade the scientific community to launch and explore renewable sources to obtain the maximum benefit in electric power generation. In most parts of the Gulf region, solar and wind energy sources are abundantly available. However, attempts to harness those resources are very limited. Furthermore, in this review report, innovative areas of advanced research (such as bioenergy, biomass) were proposed for the Gulf region to extract those resources at a higher magnitude to generate surplus power generation. Overall, this report clearly depicts the current scenario, current power demand, currently installed capacities, and the future strategies of power production from renewable power sources (viz., solar, wind, tidal, biomass, and bioenergy) in each and every part of the Gulf region.

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