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Economic feasibility analysis and policy implication for photovoltaic system at cohousing in KOREA

Lee, Mina
Renewable energy 2019 v.144 pp. 30-40
climate, combustion, economic feasibility, electricity costs, energy, fossil fuels, greenhouse gases, issues and policy, nuclear power, prices, renewable energy sources, solar collectors, Korean Peninsula
Although the highly recognized matters of ‘fine dust’ from fossil-fuel combustions and increasing ‘safety fear’ from nuclear power in Korea, the energy transition from the traditional sources to renewables causes another concerns about stable energy supply for the demand increasing every year and the unexpected future electricity price. However, the current energy sector, that heavily relies on fossil fuels and accounts for 45% of GHGs emission, should seriously consider using renewable energy technology (RET) in the new climate regime. The purpose of this study is to perform an economic feasibility analysis and policy implication of photovoltaic system for cohousing Korea that accounts for 71.9% of residential type. The result shows that the current price of residential photovoltaic system for cohousing is economically feasible without subsidy and it will increase positively acceptability of renewable energy.