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http://dx.doi.org/10.14249/eia.2014.23.1.11

Analysis of Economical efficiency for renewable energy in Steam Power Plant  

Choi, Kyoung-Sik (Dept. of Environmental Engineering, Silla University)
Publication Information
Journal of Environmental Impact Assessment / v.23, no.1, 2014 , pp. 11-17 More about this Journal
Abstract
Since the Renewable Portfolio Standard (RPS) would be started in 2012, the use of renewable energy should be 11% of total energy use including bio-fuel in 2030. The economic efficiency for renewable energy in B power plant was considered with the bio-diesel, wind power and solar power. The Net Present Value (NPV) and Benefit/Cost Ratio(BC) were used for the economic efficiency with the cost and benefit analysis. In case of bio-diesel, the cost resulted from the fuel conversion and the benefit would be created with trade and environmental improvement. With regard to wind power and solar power, the construction cost would be required and benefit factors would be same as the bio-diesel. The wind power was the best of economic efficiency of renewable energy as the results of NPV and BC ratio. Whereas, the market of wind power was very popular and the techniques of wind power has been developing rapidly.
Keywords
RPS; economic efficiency; Bio-diesel; Wind power; Solar Power;
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