| Title |
Assessing Economic Feasibility, Investment Efficiency, and the Diffusion Effects of Renewable Energy Policies in Korea |
| Authors |
정진우(Jeong, Jin-Woo) ; 구보경(Koo, Bo-Kyoung) |
| DOI |
https://doi.org/10.5659/JAIK.2026.42.1.291 |
| Keywords |
Renewable energy policy; Solar photovoltaic; Geothermal; Fuel cell; Regional disparity; Energy transition |
| Abstract |
This study examines dissemination trends and policy impacts for three major renewable energy sources in Korea: solar photovoltaic (PV),
geothermal, and fuel cell systems, from 2014 to 2023. The analysis evaluates the effectiveness of national and local government policies and
identifies structural factors that influence regional disparities in adoption. Statistical data on cumulative installed capacity, government subsidy
rates, and installation costs were reviewed alongside major policy milestones, including the Renewable Energy 3020 Initiative, the Zero
Energy Building Mandate, and the Geothermal Promotion Plan. The findings show that policy interventions combining subsidy expansion with
cost-reduction measures significantly accelerated the adoption of solar PV and geothermal systems. Solar PV deployment rose sharply
following the Renewable Energy 3020 Initiative and various municipal promotion programs, while geothermal installation expanded due to
regulatory mandates and targeted support schemes. Fuel cell adoption increased after the Comprehensive Energy Station Program and SOFC
demonstration projects; however, high initial investment and operational costs continue to limit widespread diffusion. Regional disparities in
adoption were linked to physical conditions, energy-demand density, and technological infrastructure rather than policy intent alone. Overall,
the results suggest that future renewable energy policies should incorporate source-specific and region-specific strategies to support a more
balanced energy transition and advance Korea’s 2050 carbon-neutrality goal. |