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http://dx.doi.org/10.7316/KHNES.2018.29.4.363

Economic Evaluation of ESS and Natural Gas Generator for Expansion of New and Renewable Generation  

JOO, YONGJIN (KEPCO Research Institute)
SHIN, JUGON (KEPCO Research Institute)
SEO, DONGKYUN (KEPCO Research Institute)
PARK, SEIK (KEPCO Research Institute)
Publication Information
Transactions of the Korean hydrogen and new energy society / v.29, no.4, 2018 , pp. 363-369 More about this Journal
Abstract
This paper considers the alternative way to mitigate cost for REC instead of Photovoltaic (PV) panels with Energy Storage System (ESS). This study starts from an economic analysis of a 1 megawatt PV system without ESS. Several assumptions have been applied in consideration of the current domestic situation. Based on this result, the economic efficiency of PV with ESS improved. However, the reliance on government subsidies was very high. The alternative way to cover the fluctuation power from renewable energy was reviewed with economical and technical way. In case the natural gas engine applied to PV, the IRR and Levelized Cost of Electricity (LCOE) can be improved without ESS. And if small amount of additional REC, the IRR can be improved up to investment level.
Keywords
Economic evaluation; Natural gas generator; Energy storage system; Photovoltaic;
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