Policy agenda for effecive expansion of renewable energy deployment

Heehyun Lim and Sunghoon Chung

No 155, KDI Focus from Korea Development Institute (KDI)

Abstract: Greater urgency in renewable expansion has driven a corresponding rise in the cost of policy incentives. Can the rollout be accelerated while enhancing policy efficiency? This analysis finds that the current RPS-REC scheme clears only a baseline cost-benefit test, leaving room for improvement. Interlocking bottlenecks in grid connection and financing slow renewable deployment and risk eroding the cost-effectiveness of subsidies. Achieving both speed and efficiency will require coordinated progress on three fronts: rationalizing subsidy design, expanding grid infrastructure, and improving financing conditions.

Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:kdifoc:344284

DOI: 10.22740/kdi.focus.e.2026.155

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