Carbon abatement costs and the potential of South Korea's power sector
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South Korea has set a 2030 target to reduce greenhouse gas emissions by 37 percent from the business-as-usual (BAU) level. Its power sector is expected to play a significant role in achieving this target as it accounts for more than 35% of total national emissions. This thesis examines the emissions reduction potential and costs of South Korea’s power sector by constructing a marginal abatement cost curve. Two scenarios were developed for analysis. One is a reference case, in which the current fossil fuel-based generation mix is maintained until 2029. And alternative scenario allows low-carbon measures, such as new and renewable energy, nuclear, and carbon capture and storage (CCS) built out to their maximum potential. The carbon abatement cost curve was created by comparing the two scenarios so as to indicate which abatement measures are cost-effective in terms of reducing South Korea’s power sector emissions.