• Korean System Dynamics Review
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• v.12 no.4
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• pp.93-124
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• 2011

The introduction of competition in the generation of electricity has raised the fundamental question of whether markets provide the right incentives for the provision of the capacity needed to maintain system reliability. Capacity mechanisms are adopted around the world to guarantee appropriate level of investment in electricity generation capacity. In this study, we discuss these approaches and analyze the capacity pricing mechanisms from the adequacy perspective. We conclude that the design of capacity mechanism is very important to decrease electricity spot price and increase total electric capacity. Specifically, the constant of capacity pricing mechanism made a difference to the performance of electricity market. However, the slope of capacity price mechanism is better than the constant of that in improving performance of electricity market.

• Clean Technology
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• v.29 no.1
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• pp.53-58
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• 2023

This study shows the summary of the economic performance of excess electricity conversion to hydrogen as well as methane and returned conversion to electricity using a fuel cell. The methane production process has been examined in a previous study. Here, this study focuses on the conversion of methane to electricity. As a part of this study, capital expenditure (CAPEX) is estimated under various sized plants (0.3, 3, 9, and 30 MW). The study shows a method for economic optimization of electricity generation using a fuel cell. The CAPEX and operating expenditure (OPEX) as well as the feed cost are used to calculate the discounted cash flow. Then the levelized cost of returned electricity (LCORE) is estimated from the discounted cash flow. This study found the LCORE value was ¢10.2/kWh electricity when a 9 MW electricity generating fuel cell was used. A methane production plant size of 1,500 Nm³/hr, a methane production cost of $11.47/mcf, a storage cost of $1/mcf, and a fuel cell efficiency of 54% were used as a baseline. A sensitivity analysis was performed by varying the storage cost, fuel cell efficiency, and excess electricity cost by ±20%, and fuel cell efficiency was found as the most dominating parameter in terms of the LCORE sensitivity. Therefore, for the best cost-performance, fuel cell manufacturing and efficiency need to be carefully evaluated. This study provides a general guideline for cost performance comparison with LCORE.

• 한국태양에너지학회:학술대회논문집
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• 2012.03a
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• pp.445-450
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• 2012

BIPV/T (Building Intergrated PhotoVoltaic/Thermal) is combined system produces electricity and thermal energy. The heat from PV modules should be removed for better electrical performance, and can be converted into useful thermal energy. The efficiency of the PV system's performance will raise by the system removes heat from the PV. The test system is installed to top floor of the experimental house in the KEPCO Research Institute. The planned experiment is following. (1) Supplying heat energy to top floor. (2) Supplying heat and cool energy to thermal storage in the bottom of the top floor. (3) Supplying heat energy to EHP for improved performance. The experimental performance is executed from 13th February to 13th March, 2012. The solar generation of electricity is 4.04kWh under the horizontal solar radiation is $1000W/m^2$ and the air temperature is $25^{\circ}C$.

• Communications for Statistical Applications and Methods
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• v.19 no.6
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• pp.869-876
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• 2012

In this paper, we applied seasonal time series models such as ARIMA, FARIMA, AR-GARCH and Holt-Winters in consideration of seasonality to forecast short-term electricity demand data. The results for performance evaluation on the time series models show that seasonal FARIMA and seasonal Holt-Winters models perform adequately under the criterion of Mean Absolute Percentage Error(MAPE).

• KIEE International Transactions on Power Engineering
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• v.4A no.3
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• pp.159-166
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• 2004

Forecasting prices in electricity markets is critical for consumers and producers in planning their operations and managing their price risk. We utilize the generalized autoregressive conditionally heteroskedastic (GARCH) method to forecast the electricity prices in two regions of New York： New York City and Central New York State. We contrast the one-day forecasts of the GARCH against techniques such as dynamic regression, transfer function models, and exponential smoothing. We also examine the effect on our forecasting of omitting some of the extreme values in the electricity prices. We show that accounting for the extreme values and the heteroskedactic variance in the electricity price time-series can significantly improve the accuracy of the forecasting. Additionally, we document the higher volatility in New York City electricity prices. Differences in volatility between regions are important in the pricing of electricity options and for analyzing market performance.

• KIEE International Transactions on Power Engineering
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• v.5A no.4
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• pp.416-424
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• 2005

At present, the Korean electricity industry is undergoing restructuring and the Cost Based-generation Pool (CBP) market is being operated in preparation of a Two Way Bidding Pool (TWBP) market. In deregulated electricity industries, an integrated power market simulator is one of the tools that can be used by market participants and market operators analyzing market behaviors and studying market structures and market codes. In this regard, it is very important to develop an electricity market simulator that reflects market code providing a market operation mechanism. This paper presents the development of an integrated market simulator, called the Power Exchange Simulator (PEXSIM), which is designed to imitate the Korean electricity market considering the various features of the market operating mechanism such as uniform price and constrained on/off payment. The PEXSIM is developed in VB.NET and composed of five modules whose titles are M-SIM, P-SIM, O-SIM, T-SIM and G-SIM interfacing the Access database program. To verify the features and the performance of the PEXSIM, a small Two Way bidding market with a 12-bus system and a One Way bidding market for generator competition will be presented for the electricity market simulations using PEXSIM.

• Proceedings of the KIEE Conference
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• 2004.11b
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• pp.97-100
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• 2004

As the circumstance of the traditional system is changed according to power system deregulation, the simulation tool which should reflect market code providing market operating mechanism is needed to analyze an electricity market. This paper presents the development of Electricity Market Price Simulator for short term(EMPS) that is designed to imitate the Korean electricity market. The EMPS is developed in VB.NET and is composed if three functions that consist of calculating SMP for CBP market, MCP for TWBF market and LMP for LMP-market. To evidence the features and the performance of EMPS, a small two way bidding market with 12-bus system, one way bidding market for generator competition and LMP market with 5-bus system will be presented for the electricity market simulations using EMPS.

• Journal of the Korean Solar Energy Society
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• v.26 no.1
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• pp.13-19
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• 2006

The efficiency of building-integrated photovoltaic(BIPV) system is mainly determined by solar radiation and the temperature of PV modules. The performance of BIPV systems is reported to be different from that of conventional PV systems installed in the open-air. This paper presents the relationship of solar radiation and electricity generation from a 2kWp roof-integrated PV system that is applied as building elements on an experimental house, and the energy saving effect of the BIPV system for a typical house. For the performance evaluation of the BIPV system, it produced a regression equation with measured data for winter days. The regression equation showed that a comparison of the measured electricity generation and the predicted electricity generation of the BIPV system were meaningful. It showed that an annual electricity generation of the system appeared to cover around 52% of an annual electricity consumption of a typical domestic house with the floor area of $96m^2$.

• International Journal of Control, Automation, and Systems
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• v.6 no.5
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• pp.639-650
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• 2008

Electricity price forecasting has become an integral part of power system operation and control. In this paper, a wavelet transform (WT) based neural network (NN) model to forecast price profile in a deregulated electricity market has been presented. The historical price data has been decomposed into wavelet domain constitutive sub series using WT and then combined with the other time domain variables to form the set of input variables for the proposed forecasting model. The behavior of the wavelet domain constitutive series has been studied based on statistical analysis. It has been observed that forecasting accuracy can be improved by the use of WT in a forecasting model. Multi-scale analysis from one to seven levels of decomposition has been performed and the empirical evidence suggests that accuracy improvement is highest at third level of decomposition. Forecasting performance of the proposed model has been compared with (i) a heuristic technique, (ii) a simulation model used by Ontario's Independent Electricity System Operator (IESO), (iii) a Multiple Linear Regression (MLR) model, (iv) NN model, (v) Auto Regressive Integrated Moving Average (ARIMA) model, (vi) Dynamic Regression (DR) model, and (vii) Transfer Function (TF) model. Forecasting results show that the performance of the proposed WT based NN model is satisfactory and it can be used by the participants to respond properly as it predicts price before closing of window for submission of initial bids.

• 한국신재생에너지학회:학술대회논문집
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• 2011.05a
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• pp.110.1-110.1
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• 2011

This study analyzed the performance of long term operation photovoltaic system The 50 kWp grid connected photovoltaic system which was installed at KEPRI site in 1999 has been operated more than 12 years. In order to acquire long term operation characteristics of medium size photovoltaic system, the operation test data related on power generation electricity and capacity factor of 50 kWp system, which have been collected since 1999, were analysed. From the analysing results, 57.7 MWh in annual power generation electricity of 50 kWp photovoltaic system in 1999 has been decreased 49.1 MWh in 2005 and reached 38.0 MWh in 2010. In addition to, the capacity factor of 50 kWp photovoltaic system also showed 13.2 % in 1999, 11.2% in 2005 and finally reached 8.8% in 2011. The operation test data showed a trend of decreasing of generation electricity and capacity factor during the 12 years operation time and we guessed that was caused by solar cell performance degradation and decreasing of PCS system efficiency.