Modelling power plants retrofitting for the Korean electricity sector in OSeMOSYS

In the peer-reviewed article by Chung et al.  the OSeMOSYS code is adapted to allow investigating the impact of existing coal power plants retrofitting on the overall costs and greenhouse gas (GHG) emissions for the Korean electricity sector. The aim is to estimate associated life time extension and efficiency improvement, as well as emissions reductions that such measures could provide. Results from the Korean case study prove that this could allow significant cost savings, thanks to the beneficial impact that this measure could have on increasing efficiency and lifetime of existing infrastructures. In addition, the article shows how some additional emission savings could be achieved if retrofitting would be coupled with carbon tax schemes.