A Study on New and Renewable Energy Policy Changes and Market Analysis in Korea
Abstract
The importance and necessity of renewable energy application has become more issues around the world from energy consumption reduction point of view. One of the effective ways to reduce greenhouse gases is that the government enacts the mandatary policies of renewable energy system like renewable portfolio standards and renewable feed in tariff to encourage the people and organization in public and private sector. It seems that there are three success factors of renewable energy field such as Policy, Technology and Market. This research has been conducted to analyze the policy changes and market trends of renewable energy in Korea. Based on the results of policy changes and market status, there are specific institutional improvement compared to the overseas renewable energy policies. It can be concluded that the efficiency of government policy is closely related to new and renewable energy market in South Korea.