Chapters 2 and 3 demonstrated the potential environmental benefits of regulations to reduce the use of coal and nuclear power in East Asia. However, these measures may not be the most effective at promoting the use of renewables, which is seen as key to meeting long-term climate targets. In this chapter, we expand the potential set of policies by covering carbon taxes and specific support mechanisms for renewables in the form of Feed-in-Tariffs.
Using the E3ME and FTT models, we assess how these policies could promote the use of renewables and reduce coal power generation in each East Asian country. We find that, when combined with a phase-out of coal power and carbon tax, they can be effective at reducing CO2 emissions and increasing renewable energy. Furthermore, we find that there are small economic impacts from implementing the policies.