Sustainability of a Policy Instrument: Rethinking the Renewable Portfolio Standard in South Korea

Youhyun Lee and Inseok Seo
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Youhyun Lee: East Asia Co-existence & Collaboration Research Center, Sungkyunkwan University, Seoul 03063, Korea
Inseok Seo: Department of Public Administration, Anyang University, Anyang 14028, Korea

Sustainability, 2019, vol. 11, issue 11, 1-19

Abstract: The constant effectiveness of a policy instrument was a major lacuna in energy policy for a long time. However, selecting and mixing appropriate policy instruments has become crucial in the era of climate change. The aim of this paper is to investigate the renewable portfolio standard (RPS) system as a sustainable policy instrument for promoting new and renewable energy. To answer the research question, we utilized the latent growth model by applying the data on 27 types of new and renewable energy production from 2014, 2015, and 2016. Our empirical analysis concluded that the effectiveness of the RPS as a policy instrument decreased linearly each year, and its effectiveness is expected to decrease in the long term from 2017 to 2023. Profound debates and evidence from other RPS-adopting countries should be additionally conducted to bolster this theme of sustainable energy policy instruments

Keywords: policy instrument; sustainability of instrument; renewable portfolio standard; energy policy (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:11:y:2019:i:11:p:3082-:d:235981

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