New & Renewable Energy (신재생에너지)

Korean Society for New and Renewable Energy (한국신·재생에너지학회)
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Impact of Community Investment Renewable Development Project on the Local Economy: Aspects of Residential Income and Local Company Revenue

주민참여형 재생에너지 개발의 지역경제 기여효과: 주민소득과 지역기업 매출을 중심으로

  • Received : 2020.11.06
  • Accepted : 2021.01.23
  • Published : 2021.03.25
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Abstract

Power generation using solar PV and wind power are more feasible to compete with fossil fuel power generation. However, residential acceptance is still a big challenge in the deployment of renewable energy. The Korean government has implemented various policies to support the development of renewable energy in which communities invest. However, there are very few cases of the commercial operation of community-invested renewable energy power plants. Renewable energy has attracted attention in the reduction of greenhouse gasses (GHG) effects and economic feasibility. However, it is also necessary to focus on socio-economic effects to overcome the economic recession while reducing greenhouse emissions. Community-invested renewable energy development projects can positively revitalize the local economy in many aspects, such as resident income, job creation, and the growth of local businesses. This study analyzes the local economic impact of renewable energy development projects on residents' income and job creation. It increased local companies' sales through community-invested development projects in Korea.

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