Economics at your fingertips  

CO2 leakage environmental damage cost – A CCS project in South Korea

Joo Suk Lee and Eun Chul Choi

Renewable and Sustainable Energy Reviews, 2018, vol. 93, issue C, 753-758

Abstract: The safety of CCS, namely the prevention of CO2 leakage, is one of the most sensitive issues in the CCS project. In order to solve this issue efficiently, the knowledge of environmental damage cost of CO2 leakage, in advance of CCS project, is indispensable. Therefore, this study estimates this cost by employing a contingent valuation (CV) method with data collected from a nationwide survey in South Korea. In addition, numerous zero willingness to pay (WTP) responses were dealt thorough the spike model in setting one-and-one-half-bound dichotomous choice data (OOHBDC). The estimate of the annual mean WTP was 2645.9 Korean won (USD 2.4), while the annual mean WTP is 3489.8 Korean won (USD 3.2) for those supporting the introduction of CCS technology in South Korea. The environmental damage cost of CO2 leakage was 49.5 billion Korean won (USD 45.0 million) annually.

Keywords: CCS project in South Korea; CO2 leakage; Spike model; One-and-one-half-bound dichotomous choice (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed

Downloads: (external link)
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This journal article can be ordered from
http://www.elsevier. ... 600126/bibliographic

Access Statistics for this article

Renewable and Sustainable Energy Reviews is currently edited by L. Kazmerski

More articles in Renewable and Sustainable Energy Reviews from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

Page updated 2018-11-10
Handle: RePEc:eee:rensus:v:93:y:2018:i:c:p:753-758