This paper examines the theoretical underpinnings of the 'Sunlight and Wind Pension,' a basic income policy proposed by South Korean President Lee Jae-myung to facilitate a just energy transition. The progression of energy transition gives rise to two forms of economic rent: carbon rent and renewable energy rent. Initially, carbon rent is substantial but wanes in subsequent stages, whereas renewable energy rent grows significantly over time. Given that these rents originate from the natural and social common wealth, their redistribution as basic income is theoretically justified. Carbon dividends are designed to capture carbon rent for this purpose; similarly, the Sunlight and Wind Pension aims to capture renewable energy rent. Consequently, both carbon dividends and the Sunlight and Wind Pension are critical components for ensuring the energy transition does not exacerbate inequality as it matures.