Evaluation of perceptions on economic feasibility of energy sources

ABSTRACT

Policymakers in Korea have been focusing on nuclear energy as a viable economic alternative to fossil fuels. However, the cost competitiveness of nuclear energy, along with other energy sources, is usually recognized by experts but not by the general public. The public’s perception is important in energy policymaking and must be evaluated. This research involved analysis of Korean survey data (with 3,217 valid responses) to identify the gap between public perception and the real economic feasibility of coal, nuclear, hydropower, and renewable energy. The results indicated that hydropower and renewables are perceived by the public as more cost competitive than is true in reality, while the opposite was observed for others. To bridge the gap, it is recommended that the cost competitiveness of the former group be enhanced via R&D, and that public relations activities for the latter group focus on real data and real-life benefits.

Keywords:

• Economic feasibility
• electricity
• energy sources
• Korea
• public perception