2050 projections of power and industrial high temperature heating sectors:

Projected no-action emissions based on current energy mix: 315.1 MtCO2e /year+
Maximum mitigation potential: 315.1 MtCO2e /year
Most important needle-movers are offshore wind as well as battery and ammonia storage.
Average cost of achieving zero emissions with only domestic measures is USD 94.2/tCO2e.
When collaborating with an increasing number of countries, exemplified by calculations of coupled energy systems between Republic of Korea and countries in Southeast Asia, offshore wind in the Republic of Korea becomes less important. Trade enables a wider distributed energy resource (DER) mix and green imports allow the Republic of Korea to require less offshore wind. Battery storage remain critical components in the cost-optimal technology mix in collaborative scenarios to provide flexibility services.
Strongly enhanced efficiency of coupled energy systems allow zero emissions to be achieved at lower cost. The average costs of achieving zero emissions in collaborative scenarios ranges from USD 6.4 – 44.5/tCO2e

+Emissions are the annualized value for a 30-year project starting in 2050 (i.e., divided by 30 from the total project emissions)

Republic of Korea