Abstract
This study analyzes the total cost of saving electricity (TCSE) of energy efficiency (EE) market pilot project granting incentives for the installation of 11 high-efficiency energy appliances in 51 business sites selected in 2019 in Korea. We calculate TCSE composed of participant and program costs in ex-ante perspectives as a whole, by each efficient measure, and by each business site. The weighted average of TCSE is calculated as 2.98 ¢/kWh, which is lower than the LCOE calculated based on the installation of additional power generation sources in Korea. Additionally, excluding 2 of the 11 target technologies that were rarely introduced, the TCSE showed less than 10 cents/kWh, and it was confirmed that most of the total energy savings of the program around 84,630 MWh were achieved with these inexpensive technologies. We believe that these findings have profound implications on Korea's energy efficiency programs and policy analysis.
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