Policy synergy or conflict for renewable energy support: Case of RPS and auction in South Korea

This study suggests that one option for addressing both these issues is a policy mix of RPS and long-term contract auctions with a sliding premium. In particular, a technology-specific auction can be a complement to the technology-neutral RPS, not only in terms of minimising risk, but also in terms of cost and dynamic efficiencies. The synergy effect between these two policies is expected to be more significant than alternative policy combinations.