A Study on the Revitalization of Renewable Energy Industry in the Low-Carbon Era: Focusing on Offshore Wind Power and Hydrogen

Sun Kyung Hur ()
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Sun Kyung Hur: Korea Institute for Industrial Economics and Trade, Postal: Sejong National Research Complex, Korea Institute for Industrial Economics and Trade, 370 Sicheong Dae-ro C-dong 8-12F 30147, Republic of Korea, http://www.kiet.re.kr

No 21-9, Industrial Economic Review from Korea Institute for Industrial Economics and Trade

Abstract: Since the onset of the COVID-19, the seriousness of the climate problem has attracted more attention, and international cooperation to prevent climate change and climate disaster is continuing. More than 100 countries, including the EU, China, and Japan, have declared or are pursuing carbon neutrality, and the Biden administration in the United States has also pledged carbon neutrality. In addition, major countries in the EU as well as the U.S. are considering introducing a carbon border tax, strengthening regulations related to emissions in the transport sector and establishing a plastic tax. Korea has also set active greenhouse gas targets under the new climate system and submitted them to the international community. Through its 2030 National Determined Contribution (NDC) revised in December 2020, Korea proposed a goal of reducing total national greenhouse gas emissions by 24.4 percent by 2030. The Long-Term Low Greenhouse gas Mission Development Strategy (LEDS) submitted to the United Nations Climate Change Convention (UNCC) at the same time contains a vision for 2050 carbon neutrality. This paper focuses on analyzing offshore wind power and hydrogen, which are becoming increasingly important among renewable energy sources.

Keywords: hydrogen; offshore wind; renewable energy; climate change; hydrogen power; carbon neutrality (search for similar items in EconPapers)
JEL-codes: Q42 Q48 Q54 Q58 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2021-06-01
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