94
6 Results
6.4.3 The Decarbonisation Potential of South-Korea Using its
Technical Potential of Renewable Energy
The results visible in the appendix 22 show a similar situation like Japan. The
South-Korea renewable energy technical potential could allow for renewable
hydrogen self-sufficiency and potential full decarbonisation of the industry sectors falling in the research scope. If South-Korea steel manufacturing would be
converted to the DRI-EAF route corresponding to the steel manufacturing option
(b), the CO 2 offset could be of 102,61 Mt yr −1 .
6.4.4 The Concluding Remarks Regarding the Impact
of Renewable Energy Policies on South-Korea Industry
Decarbonisation
The current renewable energy 2030 targets of South-Korea offer a limited potential for decarbonisation. This is not aligned with the goal defined in the Hydrogen
Economy Roadmap of Korea, where 30% of the hydrogen used in 2040 should
be produced from water electrolysis. The current estimation shows that with the
entirety of the renewable electricity generated with the renewable energy capacity
targeted at 2030, 0,46 Mt yr −1 of renewable hydrogen could be produced. This
represents only 20% of the hydrogen demand estimated for the industry sectors
falling into the research scope, which does not account for the needs of the mobility, electricity generation and heat sectors. This implies that renewable hydrogen
would need to be imported if South-Korea want to reach its CO 2 -free hydrogen
share goals.
Like Japan, South-Korea has the renewable energy technical potential to be
self-sufficient in renewable hydrogen. The estimated 2,30 Mt yr −1 of renewable
hydrogen demand at 2030 could be covered in all scenarios. The scenario (3)
indicates that South-Korea could use economically viable power-to-gas systems
to cover the renewable hydrogen demand for the ammonia, methanol, oil refineries
and steel manufacturing sectors and still having up to 10 Mt yr −1 of renewable
hydrogen available for other applications.
6 Results
6.4.3 The Decarbonisation Potential of South-Korea Using its
Technical Potential of Renewable Energy
The results visible in the appendix 22 show a similar situation like Japan. The
South-Korea renewable energy technical potential could allow for renewable
hydrogen self-sufficiency and potential full decarbonisation of the industry sectors falling in the research scope. If South-Korea steel manufacturing would be
converted to the DRI-EAF route corresponding to the steel manufacturing option
(b), the CO 2 offset could be of 102,61 Mt yr −1 .
6.4.4 The Concluding Remarks Regarding the Impact
of Renewable Energy Policies on South-Korea Industry
Decarbonisation
The current renewable energy 2030 targets of South-Korea offer a limited potential for decarbonisation. This is not aligned with the goal defined in the Hydrogen
Economy Roadmap of Korea, where 30% of the hydrogen used in 2040 should
be produced from water electrolysis. The current estimation shows that with the
entirety of the renewable electricity generated with the renewable energy capacity
targeted at 2030, 0,46 Mt yr −1 of renewable hydrogen could be produced. This
represents only 20% of the hydrogen demand estimated for the industry sectors
falling into the research scope, which does not account for the needs of the mobility, electricity generation and heat sectors. This implies that renewable hydrogen
would need to be imported if South-Korea want to reach its CO 2 -free hydrogen
share goals.
Like Japan, South-Korea has the renewable energy technical potential to be
self-sufficient in renewable hydrogen. The estimated 2,30 Mt yr −1 of renewable
hydrogen demand at 2030 could be covered in all scenarios. The scenario (3)
indicates that South-Korea could use economically viable power-to-gas systems
to cover the renewable hydrogen demand for the ammonia, methanol, oil refineries
and steel manufacturing sectors and still having up to 10 Mt yr −1 of renewable
hydrogen available for other applications.