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Research Paper

Changes in the Carbon Price and the Economic Value of Eco-Friendly Facility

탄소가격의 변화에 따른 친환경 시설의 경제적 가치 분석

Haeseong Oh1
,
Yoonkyung Kim2
,
Junghyun Choi1
,
Jeongsun Yun3*
오 해성1
,
김 윤경2
,
최 정현1
,
윤 정선3*
3College of Business Administration, Kookmin University
1이화여자대학교 환경공학과
2이화여자대학교 경제학과
3국민대학교 경영대학
*교신저자. *Corresponding Author. 
31 December 2015. pp. 604-613
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Abstract

This paper examines the effects of carbon cost on the economic value of eco-friendly facility. We find that it is the combination of the pass-through rate of carbon cost and the price elasticity of electricity demand that determines the economic value of eco-friendly facility. Although the economic value of the eco-friendly facility increases as the pass-through rate increases, this positive effect decreases as the price elasticity of the electricity demand increases. The economic value of the eco-friendly facility, also, exhibits dramatic changes depending on the periods of data under analyses. The economic value of eco-friendly facility is higher by 3.39～21.11% when last 10-year data set is used for analyses than when only last 3-year data set is, reflecting recent downturns of carbon prices. The results suggest that political and economic conditions should be taken into consideration in decision-making regarding the construction of eco-friendly facility.

Keywords
Price elasticity of demand
Pass-through rate
Carbon cost
Carbon emission trading

최근 탄소배출권거래제가 국내에 도입됨에 따라 전력생산업체에 부과되는 탄소비용의 전가현상이 전력수요 및 친환경 시설의 경제성에 미치는 영향에 대한 논의가 활발하다. 본 연구에서는 탄소비용의 전가현상이 전력사용량을 절감하는 친환경 시설의 경제적 가치에 미치는 영향을 전력수요의 가격탄력성을 고려하여 추정하였다. 분석 결과 탄소비용의 전가율이 친환경 시설의 경제적 가치에 미치는 영향은 전력수요의 가격탄력성이 높을수록 감소하는 것으로 추정되었다. 이는 전력수요의 가격탄력성이 높을 경우 가격상승으로 인한 경제적 가치의 증대분이 전력수요의 감소로 일부 상쇄되기 때문이다. 또한 본 연구에서는 탄소배출권 가격의 변동성이 매우 높고 현재 탄소배출권 가격이 사상 최저 수준임을 고려하여 과거 10년 간의 탄소배출권 가격의 통계자료를 활용하여 분석을 진행하였고, 그 결과 최근 3년간의 통계자료를 활용한 경우에 비하여 친환경 시설의 경제적 가치가 크게 증가하는 것으로 추정되었다. 이는 최근의 낮은 탄소배출권 가격에도 불구하고 친환경 시설에 대한 투자의사결정시 다양한 정치적･경제적 상황에 대비하는 것이 필요하다는 점을 시사한다.

키워드
수요의 가격탄력성
전가율
탄소비용
탄소배출권
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Information
  • Publisher :The Korean Society of Mineral and Energy Resources Engineers
  • Publisher(Ko) :한국자원공학회
  • Journal Title :Journal of the Korean Society of Mineral and Energy Resources Engineers
  • Journal Title(Ko) :한국자원공학회지
  • Volume : 52
  • No :6
  • Pages :604-613
  • Received Date : 2015-09-18
  • Revised Date : 2015-12-24
  • Accepted Date : 2015-12-24
  • DOI :https://doi.org/10.12972/ksmer.2015.52.6.604
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