• New & Renewable Energy
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• v.17 no.1
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• pp.50-60
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• 2021

This study investigated the reference case in the UK where legality and sustainability were systematically established for forest biomass represented by wood pellets. The UK is the country that best utilizes the trade value of wood pellets based on sustainability, with bioenergy accounting for 31% of total renewable energy production. The UK imported wood pellet, estimated 8,697 thousand tons in 2019. The UK government has continuously improved the renewable generation policy system to ensure the sustainability of wood pellets. The weighted average greenhouse gas emissions of a UK biomass power plant that received a Renewable Obligation Certificate (ROC) in 2018-19 was 26.71 gCO2e/MJ. These power plants are expected to meet the upper limit of 72.2 gCO2e/MJ by 2025. To issue an ROC, the biomass power plant must demonstrate that 70% of its total biofuel usage is sustainable. The UK uses the Sustainable Biomass Program (SBP) certification system, which is gradually expanding to other European countries, to prove the sustainability of biomass energy fuels. Global wood pellet production with SBP certification in 2019 was 10.5 Mt. This trend has significant implications for introducing additional sustainability into the wood pellet policy of South Korea.

• Journal of the Korean Applied Science and Technology
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• v.31 no.4
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• pp.562-571
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• 2014

In these days, many countries carry out many renewable energy policies to increase the renewable energy portion and to reduce the GHG(Green House Gas). In Korea, RPS(Renewable Portfolio Standards) focused on over 500MW power producers is conducting. And they are using the bio-fuel oil to meet their RPS quota. The oil is a mixture of animal and vegetable fat or fatty acid ester of them and should satisfy some specifications to use the power generation such as viscosity, pour point, acid number. Depends on the raw materials, quality characteristics of power bio-fuel oil are changed. By adding the power bio-fuel oil, pour point, density, sulfur content and viscosity are decreased and acid number, iodine number, oxygen content are increased. In this study, we test the quality characteristic of power bio-fuel oil and the property changes by the blending ratio of power bio-fuel oil & conventional fuel oil.

• Environmental and Resource Economics Review
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• v.21 no.2
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• pp.301-319
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• 2012

The primary purpose of Renewable Portfolio Standard (RPS) is to facilitate investment in renewable energy technology. Since emission trading program has similar purpose, it is conceivable to attempt to link RPS and emission trading program through interlinked markets. RPS in Korea with single REC and emission allowance markets has particular advantages for constructing linkages between two markets. This paper provides a real option model to examine investment effects of linkage of RPS to the trading program. Emission permit price and REC price are assumed to follow stochastic processes and renewable investment is irreversible. The result shows that linked market provides further incentive for renewable investment by raising managerial flexibility for power companies.

• Journal of Energy Engineering
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• v.23 no.4
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• pp.106-111
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• 2014

In order to manage the gradual increase of electricity demand, the United States, Japan, and Europe are seeking to achieve overall change of electric power system by introducing solutions such as smart grid. Among these solutions, there are various research projects regarding the Electricity Storage System (ESS), which aims to promote the efficient usage of electricity and grid system of new and renewable energy system. Korean government revised the law by including ESS in new and renewable energy facilities to accelerate ESS deployment. Following the same direction of the government policy, this study suggests methodologies of setting REC weighted value that guarantees investment financial feasibility when new and renewable power producers install ESS.

• Journal of Energy Engineering
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• v.28 no.3
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• pp.34-41
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• 2019

It is essential to introduce EERS (Energy Efficiency Resource Standards) according to the trend of the era in which energy saving is emphasized, and it is time to settle down in a stable manner. Electric motors and lighting devices, which account for more than 60% of the nation's electricity use, are the most effective items of the EERS. And accurate methods of calculating savings must be preceded. In this study, the operation rate and load rate are measured through the demonstration of energy use at 400 businesses and the measured rates are used for EERS savings calculation. The results imply that the proposed method can be successfully applied to calculate cost-effective and reliable energy savings.

• Proceedings of the KIEE Conference
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• 2011.07a
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• pp.1370-1371
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• 2011

2011년 RPS(신재생에너지 공급의무화제도)의 본격적인 시행을 앞두고 국내 신재생에너지 산업의 많은 변화가 예상된다. 사업을 추진함에 있어 재무적 타당성을 분석하여 사업을 결정하는 것은 가장 기본적인 절차이다. 이러한 과정에서 비용과 편익에 대한 분석이 이루어지며 이에 대한 신뢰도의 정도에 따라 사업의 성공여부가 좌우된다고 할 수 있다. 통상 재무적 타당성분석은 유형적인 요소를 분석하여 사업성을 결정하지만, 무형적인 비용과 편익도 간과할 수는 없다. 유형적인 요소는 명확한 재무적인 수치로 나타나지만 무형적인 요소를 재무적인 수치로 평가하는 것은 쉬운 일 아니다. 무형적인 비용과 편익에 대한 정형화된 산정모델이 없고, 주관적인 의견에 의존하는 경향이 크므로, 해당 업체의 환경과 특성에 따라 평가방법 및 평가액이 상이하며 평가에 대한 신뢰도 또한 전문가에 따라 차이가 발생한다. 하지만, 이러한 무형적인 요소에 대한 평가는 사업추진 여부에 대해 중요한 변수로 작용할 수 있다. 실례로, 2002 월드컵 유치에 대한 무형효과에 대한 평가액은 가지각색이지만, 월드컵 유치로 인한 국가의 인지도 상승 및 경제적 효과는 누구도 부인하지 못할 것이다. 본 연구에서는 무형효과 산출에 대한 대표적인 사업의 사례 조사를 통해 무형효과 평가모델에 대한 기본 방식을 연구함으로써, 신재생에너지 개발사업에 적용할 수 있는 무형효과 산출 모델의 기본안을 제시하고자 한다.

• Environmental and Resource Economics Review
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• v.23 no.4
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• pp.747-784
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• 2014

Many countries have implemented a variety of climate and energy policies to reduce greenhouse gas emissions and expand renewable energy production. The ultimate goals of those policies are associated with transition to a low-carbon economy that aims to combat climate change and economic growth. This study aims to examine empirically if the countries which implement overlapping climate policies and renewable energy policies show additional reduction of the GHG emissions than the countries which implement single climate or renewable energy policy. The result shows that overlapping policies contribute to reduce additional GHG but not all cases. In particular, only overlapping policies mixing 'ETS and RPS(renewable portfolio standards)' and 'Carbon Tax and FIT(Feed-in Tariff)' can lead to additional reduction of GHG emissions.

• Transactions of the Korean hydrogen and new energy society
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• v.28 no.6
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• pp.712-720
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• 2017

As Korean government has activated the renewable portfolio standard (RPS) since 2012, producers have been seeking and using the various renewable resources to meet the RPS quota. One of these efforts, Power Bio-Fuel oil demonstration project is being conducted to check the operability and compatibility with fossil fuel, Fuel oil (B-C) from 2014. The oil is a mixture of vegetable oil and animal fat or fatty acid ester of them and should satisfy some specification to use the power generation. The oil's quality and combustion characteristics are different from conventional oil, Fuel oil (B-C) in current power plant facility. In this study, it was investigated the storage stability and malodor intensity of Bio-Fuel oil.

• Transactions of the Korean hydrogen and new energy society
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• v.26 no.5
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• pp.484-492
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• 2015

As our government is actively introducing the RPS (Renewable Portfolio Standards) as a national renewable energy obligation policy, power producers are using the various renewable energy to meet the RPS supply quota since 2012. Recently, it is appling to use power bio-fuel oil in bio-fuel oil demonstration project with power companies. In general, power bio-fuel oils are composed of mixture products of vegetable oil, animal fat, fatty acid ester and waste oil. It is already developing for a power plant as a renewable energy abroad. In Korea, it is studying a 100% combustion and blended combustion of heavy fuel oil and bio-fuel oil. In this study, we investigated fuel characteristics of mixed power bio-fuel oil and its emission performance. Especially, it was reduced emissions of bio-oil in industrial boilers due to bio-fuel properties as compare with fuel oil.

• Journal of the Korean Applied Science and Technology
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• v.32 no.1
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• pp.136-147
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• 2015

As it carry out RPS(Renewable Portfolio Standards), power producers are using the power bio-fuel oil to meet their RPS quota. In this study, we test the quality characteristics of raw materials for power bio-fuel oil and the property changes of power bio-fuel oil by the kind of feedstocks. The power bio-fuel oil and feedstocks were analyzed for item of quality standard such as acid number, viscosity and metal contents. And it was analyzed for composition distribution by FT-IT and HPLC. Such as low priced palm oil series has high acid number and ash contents due to high free-fatty acid and metal contents. And by-product of biodiesel have a tendency of high viscosity. The fuel properties of power bio-fuel oil, such as viscosity, acid number and metal contents are correlated with the constituent and the mixing ratio of the feedstocks.