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ID: 166332

Long-term energy strategy scenarios for South Korea: transition to a sustainable energy system / Hong, Jong Ho

Hong, Jong Ho	Journal Article
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Summary/Abstract

This study aims to provide roadmaps for the sustainable development of South Korea's energy system. To this end, this study developed transition scenarios toward renewable energy for both supply and demand. We use “Long-range Energy Alternatives Planning system (LEAP)” Model and a backcasting approach to illustrate pathways to achieve the goals set forth in each of the scenarios. The four scenarios developed are Business-As-Usual (BAU), Moderate Transition Scenario (MTS), Advanced Transition Scenario (ATS), and Visionary Transition Scenario (VTS). The scenarios are defined according to the differences in the level of final energy consumption and renewable energy share by 2050. Analysis shows an increase in the percentage of renewable energy and a decrease in energy demand lead to improved energy security, more jobs in the electricity generation sector, and a decrease in greenhouse gas emissions. The pathways represented by these scenarios can be regarded as strategic targets for the sustainable development of South Korea's energy system. A set of comprehensive and long-term policies will be needed to attain the goals set forth in the scenarios.

Key Words

Renewable Energy ; Energy Scenarios ; LEAP ; Sustainable Energy System

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ID: 126958

Measuring the economic benefits of an environmental monitoring : the value of information approach / Eom, Young Sook; Hong, Jong Ho

Eom, Young Sook	Journal Article
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2013.

Summary/Abstract

This paper reports a first application of contingent valuation method to measure the value of information generated by earth science data from an environmental geostationary satellite payload called Geostationary Environmental Monitoring Satellite. The purpose of the space project is to improve the accuracy of air pollution information by enhancing air pollution monitoring and forecasting system coupled with conventional ground level monitoring stations located throughout South Korea. Estimation results based on a survey data of 1000 households show that most explanatory variables including bid amounts and household income significantly influenced dichotomous choice contingent valuation responses with expected signs. When applied to the whole sample, mean willingness to pay reflecting both use and non-use values was stable at around $3.70 per year for the improvement of air quality information. Present values of total benefits over the lifetime period of the space satellite exceed the cost born by tax payers with a benefit-cost ratio of 2.77. The result of this study clearly suggests that contingent valuation method can be used as an alternative approach in measuring the value of information from a space-derived earth science project.

Key Words

Air Pollution ; Contingent Valuation Method ; Economic Benefits ; Geostationary Environmental Monitoring Satellite ; Value of Information

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