Examination of uncertainty in external costs of energy generation technologies (coal, LNG, nuclear, renewable energy)

Abstract

Energy policy is a policy that addresses energy development issues, including the production, distribution and consumption of energy. The supply of energy is the basis of economic development and its demand is stimulated in response to economic development. The basic task of energy policy is to secure cheap and stable energy in the long run. However, considering the economics of energy, direct cost should not be only considered. In addition to direct costs, it is necessary to establish energy policies that take external costs such as environment, health, accidents, and security into account, taking into account the external effects that may arise from energy. External costs have more uncertainty than internal costs. Therefore, there are various predictions and risks associated with them. In this study, external costs for each source are investigated considering the uncertainty of external costs. Proper understanding and review of external costs will help public and policy makers to have a proper assessment and perception of energy sources and to establish a sustainable energy policy.