A Practical Framework for Developing Net-Zero Electricity Mix Scenarios: A Case Study of South Korea

Changgi Min () and Heejin Kim
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Changgi Min: Department of Electrical and Electronic Engineering, Joongbu University, 305 Dongheon-ro, Deogyang-gu, Goyang-si 10279, Gyeonggi-do, Republic of Korea
Heejin Kim: Research and Development Department, Pion Electric Co., Ltd., 50 Yonsei-ro, Seodaemun-gu, Seoul 03722, Republic of Korea

Energies, 2024, vol. 17, issue 4, 1-37

Abstract: This paper proposes a practical framework for developing a net-zero electricity mix scenario (NEMS), which considers detailed conditions for supply of each energy. NEMS means a path scenario for power generation amount by year of each generation resource required to achieve carbon neutrality in 2050. NEMS framework refers to a methodological framework that contains procedures and requirements to continuously update the NEMS by comprehensively reflecting policy changes. For evaluation of NEMS, indicators such as a system inertia resource ratio (SIRR) and a fuel conversion rate (FCR) are proposed. The proposed framework and indicators are applied for the 2050 NEMS in Korea’s electricity sector. The SIRR, indicating the ratio of inertial resources to total resources, projects values of 49% and 15% for the years 2030 and 2050, respectively. Furthermore, the FCR, reflecting the ratio of fuel conversion for resources undergoing this process, predicts that all targeted resources will have completed conversion by the year 2043.

Keywords: carbon neutrality; fuel conversion; net-zero electricity mix (NEMS); new and renewable energies (NRE); practical framework; South Korea; system inertia; weighted moving average (WMA) (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2024
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