Mobile QR Code QR CODE : The Transactions of the Korean Institute of Electrical Engineers
Title Analysis of Global RE100 Operation Status and Suggestions for Expanding RE100 in South Korea
Authors 신훈영(Hunyoung Shin) ; 박종배(Jong-Bae Park)
DOI https://doi.org/10.5370/KIEE.2021.70.11.1645
Page pp.1645-1654
ISSN 1975-8359
Keywords Renewable Energy 100% (RE100); Power Purchase Agreement (PPA); Renewable Energy Trade; Green Premium; Renewable Energy Certificate (REC)
Abstract The RE100 (Renewable Energy 100%) campaign is a voluntary initiative at the private level to procure 100% of a company's electricity consumption with renewable energy. Although multiple companies in South Korea have announced their participation in RE100, the number of participating companies is still very limited compared to other developed countries for both regulatory and economical reasons. In this study, we analyze various renewable energy purchasing methods for participating in RE100 and demonstrate that power purchase agreements (PPAs) are the most efficient method for achieving the national renewable energy target in South Korea. Afterward we suggest the economical and regulatory prerequisites that should be prepared for the activation of PPAs