THE USE OF SOLAR ENERGY IN THE KOREAN ECONOMY: A SOLUTION OR A PROBLEM?
Keywords:Cost/Benefit Analysis, Energy Policy, Korea, Renewable Energy, Solar Energy
Fossil fuels power most of our society, yet they will not last forever. The search for alternative sources of energy have yielded only fleeting promises of change. Of the many types of sustainable energy, solar energy seems to be the most promising, however, solar energy is not without its flaws. This paper will explore the history and mechanics of solar energy, it will also feature a specific focus on the use of solar energy in the Korean economy. In order to ascertain whether or not solar energy may provide a sufficient alternative to fossil fuels for Korea’s primary source of energy, it will be necessary to conduct a cost/benefit analysis of solar energy. After conducting thorough research on the topic and based on the evidence to be provided in this paper, it is concluded that while solar energy has the potential to serve as a replacement for fossil fuels in Korean energy production, it is not yet ready to take on that role. It will be necessary to further develop the technology involved in the capture, storage, and use of solar energy, before it serves as a significant source of power.
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