• KIEE International Transactions on Power Engineering
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• v.3A no.3
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• pp.124-129
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• 2003

As the power industry moves towards open competition, there has been a call for methodology to evaluate power system reliability by using composite interruption cost. This paper presents algorithms to evaluate the interruption cost of distribution power systems by taking into consideration the failure source and the composite customer interruption cost. From the consumer's standpoint, the composite customer interruption cost is considered as the most valuable index to estimate the reliability of a power distribution system. This paper presents new algorithms that take into account the load by customer type and failure probability by distribution facilities while calculating the amount of unserved energy by customer type. Finally, evaluation results of unserved energy and system interruption cost based on composite customer interruption cost are shown in detail.

• New & Renewable Energy
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• v.8 no.4
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• pp.3-12
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• 2012

Large offshore wind farms have actively been developed in order to meet the needs for wind energy since the land-based wind farms have almost been fully developed especially in Europe. The key problem for the construction of offshore wind farms may be on the high cost of energy compared to land-based ones. NREL (National Renewable Energy Laboratory) has developed a spreadsheet-based tool to estimate the cost of wind-generated electricity from both land-based and offshore wind turbines. Component formulas for various kinds and scales of wind turbines were made using available field data. In this paper, this NREL estimation model is introduced and applied to the offshore wind turbines now under designing or in production in Korea, and the result is discussed.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.26 no.8
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• pp.357-365
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• 2014

This paper proposed a multi-objective optimization method for building energy system design using primary energy consumption and initial cost. The designing of building energy systems is a complex task, because life cycle cost and efficiency of building are determined by decisions of engineer during the early stage of design. Therefore, methods such as pareto analysis that can generate various alternatives for decision making are necessary. In this study, the optimization is performed using the NSGAII and case study was carried out for feasibility of the proposed method. As a result, alternative solutions can be obtained for the optimal building energy system design.

• Journal of the Korean Solar Energy Society
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• v.34 no.2
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• pp.24-31
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• 2014

So many energy saving strategies to realize the low energy house are proposed in these days. Even if the energy saving performances are similar between the strategies, the costs are in abroad ranges. Therefore, the application of the energy saving strategies should be based upon two considerations; one is energy saving performance and the other is the cost. In this study, the decision making method for application of the passive design technologies in the design stage of the low energy apartment house are suggested. By utilizing the result of this study, practitioners can make an effective design alternatives which solve the conflicted values; energy saving and cost.

• Journal of the Korean Society for Geothermal and Hydrothermal Energy
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• v.9 no.2
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• pp.25-31
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• 2013

It has become very important for unused energy to be used for building air conditioning. Economic evaluation on energy system by using river water as a heat source, which is one of the unused energy, was carried out. The floor area of the building and the distance between heat source equipment and river was assumed $50,000m^2$ and 200 m. General heat source system using absorption chiller-heater was used for comparing to the energy saving system, and payback period method using initial cost and running cost of two systems, was used to perform economic evaluation. According to development of high capacity of water source heat pump which is appropriate for using river water, initial cost for the system has been reduced. Payback period was about 3.2 years, and this period might be shortened if nation's economic support enact.

• Journal of the Architectural Institute of Korea Structure & Construction
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• v.34 no.11
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• pp.81-87
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• 2018

Among various types of geothermal heat pump systems, Vertical Closed-Loop Geothermal Heat Pump (VGSHP) has received increasing attention due to a variety of advantages such as the potential to be installed in a relatively small space and improved energy efficiency. In this research, the performance of VGSHP system coupled with heat storage tank was evaluated, by analyzing operational behavior of heat storage tank, the variations of heat pump energy performance due to the connection with heat storage tank, part load ratios characteristics of heat pump and the corresponding energy cost, compared to chiller and boiler based conventional system. The results of this study showed that the VGSHP system coupled with heat storage tank showed an energy saving effect of about 18% for cooling and about 73% for heating, and annual heating/cooling energy cost reduction of 43,000,000 KRW ($ 39,000), compared to the conventional air conditioning system. In addition, after considering both energy cost and initial investment cost including equipment, installation and auxiliary device expenses, payback period of approximately 11.8 years was required.

• 한국신재생에너지학회:학술대회논문집
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• 2011.05a
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• pp.140-140
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• 2011

Korea's RPS, which requires that power generation companies obtain a minimum percentage of their generation by using renewable energy, will take effect in 2012. Based on the first-year law enforcement, generation companies have to satisfy 2% of RPS compliance ratio in 2012. Then, the required RPS compliance ratio will increase up to 10% in 2022. Thus generation companies need to construct power plants that utilize various types of renewable energy sources such as PV and wind power. This work is aimed to analyze the cost of such a renewable power source in terms of capital cost, capacity factor, and fuel cost. We provide the analytical expectation on the renewable power generation cost of 2012 focusing on PV, onshore/offshore wind, fuel cell, and IGCC, which are focused by government policy.

• New & Renewable Energy
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• v.20 no.1
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• pp.26-37
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• 2024

Renewable energy sources play a key role in achieving carbon neutrality and zero net emissions in the power generation sector. Various efforts have been made to support the deployment of renewable energy, particularly solar photovoltaic and wind power, including policies to internalize the external cost of carbon emissions. In this study, we conducted a financial analysis of a 800 MW floating photovoltaic system and compared it with ground solar power generation. Additionally, we conducted a cost-benefit analysis that included the social cost of carbon. The findings showed that the floating photovoltaic project can meet the profitability target through an appropriately designed internalization of the social cost of carbon.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.59 no.6
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• pp.1046-1052
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• 2010

In residential house, photovoltaic (PV) system among various alternatives in renewable energy system is the most efficient and feasible solution for reducing energy consumption and electricity cost. However, relatively high initial cost make people reluctant to install PV system in their houses. Therefore, in the initial state for PV system installation in the house, it is very important to decide proper capacity of the PV system considering the expected energy usage and solar energy supplying condition with the house. This paper proposes a novel optimization model for deciding appropriate capacity of the PV system for residential house. The objective function of the model is to minimize the annual cost including electricity bill, operation and maintenance cost, and annual fixed cost calculated from the initial installation cost based on capital recovery factor (CRF). The model also shows the optimal inclining angle of PV panels of the system. In this paper, we estimate the PV output using PVWATTS (PV simulator of Office of Energy Efficiency and Renewable Energy) and find optimal solutions by Sequential Quadratic Programming (SQP) method using MATLAB software. The proposed approach is finally applied to a residential model house in Gangneung, Gangwon-Do and verified its feasibility for adopting to PV system design for residential houses.

• Journal of the Architectural Institute of Korea Structure & Construction
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• v.36 no.3
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• pp.147-157
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• 2020

With the increasing obligation to reduce greenhouse gas emissions to the building sector, the government has been gradually expanding its obligation to zero-energy buildings since 2020. Since the ZEB certification took effect in 2017, 48 preliminary and main certifications have been completed as of March 2019, and most of them are public buildings or even certified, but have earned Grade 5 of ZEB. This means that compared with the number of annual building permits registered in Korea, the figure is insignificant, and that it receives little if not mandatory. Therefore, this study investigated empirical cases of ZEB additional construction cost and conducted cost benefit analysis according to changes in ZEB additional construction cost based on a preliminary feasibility analysis project recently conducted by the KDI. In addition, considering the public buildings, the social costs were considered, and the cost-benefit analysis method was the same as the KDI's preliminary feasibility analysis method. The analysis shows that if the ratio of ZEB additional construction cost is more than 5 percent, it is analyzed that there is no economic feasibility, and considering that the ratio of additional construction cost in the cases of ZEB in Korea is 17 percent to 38 percent, it will not be easy to obtain ZEB certification in terms of cost. Finally, to narrow these differences in cost and economic aspects, the overseas low energy and ZEB incentive examples proposed measures such as the concept of subsidy payment in Illinois and the compensation of social costs to private ZEB.