By Vijay Jayaraj
Ranked 12th in terms of per capita energy consumption in 2021, South Korea uses more than three times the global average. The country’s industry accounts for 40 percent of total energy consumption. Particularly energy intensive are major industrial cities such as Ulsan and Gwangyang, home to the world’s largest steel mill.
However, the country’s booming economy is now preparing to meet the impact of its recently announced zero ambitions. These policies are designed to replace existing reliable energy sources with so-called green technologies that have proven to be unstable in both reliability and price.
Net Zero Thrust in Korea
South Korea is committed to achieving net zero by 2050. In 2021, the country has proposed two routes to achieve this. Firstly call for ban “all thermal power generation using fossil fuels such as coal, LNG (liquefied natural gas) and oil to zero emissions in the power generation sector”.
The second would eliminate coal plants while retaining LNG facilities as a source of flexible power generation. The plan also calls for the electrification of 85% of all vehicles on the road.
Under these proposed roadmaps, the country aims to reduce coal-fired power generation by at least 50% by 2030. It is unclear how this loss in power output can be offset by other sources. intermittent solar and wind power. The share of solar photovoltaics in Korea’s total electricity generation in 2021 is just over four percent.
Businesses see these plans as “threatening industries” as well as “far-fetched and ambiguous”.
South Korea plans to meet some of its energy needs with major projects such as a $32 billion offshore wind power project. The fishery, which is teeming with shrimp, flounder and flounder, seems destined to be The world’s largest offshore wind farmendanger the ecosystems and traditional livelihoods of thousands of people.
Can such intrusions into pristine marine environments be justified by wind turbine energy production? Are you sure! Here’s why.
While solar and wind power are often touted as renewable energy sources that can help meet the country’s growing needs, they are highly unreliable because of their dependence on sunlight and wind and the inability to provide uninterrupted power to large populations and industries.
In addition, solar and wind energy are not cost-competitive with fossil fuels and will reduce the competitiveness of commercial and industrial customers.
In short, Korea’s major industrial centers – and other businesses – need the reliable and economical power of nuclear power, natural gas and coal.
In fact, these three energy sources have been the mainstay of economic growth in Korea this century. To deprive the country of these modern energy-producing miracles would cripple an economy that relies on industries to meet 32% of gross domestic product (GDP). The highest single GDP contribution to the economy is from make.
Korea only one The “electrical emergency response handbook” outlines “the procedures for responding in the event of a power supply emergency”. The plan provides various measures to reduce energy demand in the event of a supply shortage. Increased reliance on wind and sun will almost certainly lead to shortages, as has happened in places like California and Germany.
A more sensible approach would be to retain the existing energy sources supplying Korea. 524.5 trillion won ($398.6 billion) manufacturing sector. This is especially true because the obsession with net zero is an irrational response to a sham climate emergency.
This commentary was originally published at Real Clear Energy, May 29, 2023 and can be visit here.
Vijay Jayaraj is a Research Associate at CO2 Alliance, Arlington, Virginia. He holds a master’s degree in environmental science from the University of East Anglia, UK and resides in India.
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