• 한국신재생에너지학회:학술대회논문집
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• 2008.10a
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• pp.109-109
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• 2008

• Korean Journal of Construction Engineering and Management
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• v.11 no.1
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• pp.113-121
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• 2010

Since the cut-down of the purchasing price of the feed in tariff(FIT) in 2008, the numbers of photovoltaic projects get decreased, contrary to investment expansion policy of government on renewable energy. The root cause of the decrease is the irrationality of the current purchasing price structure of FIT as well as the adversity of fund raising due to the global financial crisis. This study proposes the FIT calculating model (Cost & Benefit Risk Based Purchase Price Process : CBRP3) reflecting the fluctuation of cost and benefit risks. The first step is to establish the photovoltaic generation alternatives, and to calculate each distribution data of the investment and the power generation quantity. The FIT for each alternative is, then, assessed through simulations. Finally the proposed FIT scheme is compared to the present FIT scheme and future study subjects are derived.

• Journal of the Korean Solar Energy Society
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• v.37 no.1
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• pp.59-69
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• 2017

In 2012, Korea introduced a Renewable Portfolio Standard (RPS) scheme, replacing the Feed-in Tariff (FIT) scheme as a market support policy of renewable energy in the electricity market. RPS is to allocate obligatory quota of renewable energy sources for electricity suppliers, whereas FIT is to guarantee high prices for electricity from renewable energy sources. This study examines the effect of this policy change on solar photovoltaic market. According to the study, solar PV market grew fast under FIT as well as under RPS. However, under RPS the size of subsidy for solar PV suppliers was shrunk substantially. In addition, market risk increased severly under RPS due to the volatility of price of renewable energy certificate (REC) as well as of the electricity market price. The small and medium suppliers of solar PV were suffered the most severly from these policy effects. Therefore, the policy reform of RPS is needed to alleviate the market risk of small and medium suppliers of solar PV.

• New & Renewable Energy
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• v.10 no.1
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• pp.41-49
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• 2014

For a proper valuation of wind power project, it is necessary to consider volatilities of key parameters such as annual energy production, electricity sales price, and long term interest rate. Real option methodology allows to calculate option values of these parameters. Volatilities to be considered in wind project valuation are 1) annual energy production (AEP) estimation due to meteorological variation and estimation errors in wind speed distribution, 2) changes in system marginal price (SMP), and 3) interest rate fluctuation of project financing which provides refinancing option to be exercised during a loan tenor for commercial scale projects. Real option valuation turns out to be more than half of the sales value based on a case study for a FIT scheme wind project that was sold to a financial investor.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.58 no.3
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• pp.467-477
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• 2009

Renewable Portfolio Standard (RPS) is a regulatory policy that requires the generation companies to increase the proportion of renewable energy sources such as wind, solar, LFG, fuel cell, and small hydro. Recently, Korean government decided to increase the portion of renewable energy to 3% to total electricity generation by 2012 from the current level of 0.13%. To achieve this goal, an innovative plan for market competitiveness would be required in addition to the present Feed-In-Tariff (FIT). That is Korean government has taken it into consideration to introduce a Renewable Portfolio Standard (RPS) as an alternative to FIT. This paper reviews the impact of RPS on the long-term fuel mix in 2020. The studies have been carried out with the GATE-PRO (Generation And Transmission Expansion PROgram) program, a mixed-integer non-linear program developed by Hongik university and Korea Energy Economics Institute. Detailed studies on long-term fuel mix in Korea have been carried out with four RPS scenarios of 3%, 5%, 10% and 20%. The important findings and comments on the results are given to provide an insight on future regulatory policies.

• 한국신재생에너지학회:학술대회논문집
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• 2010.06a
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• pp.65.1-65.1
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• 2010

KPX(Korea Power Exchange) has been supervising FIT(Feed-in-tariff) for renewable energy power plants and supported 289MW photovoltaic power plants with Electric Power Industry Basis Fund in 2009. In this paper, we'll analyze utilization factor of these PV power plants in 2009 and for the latest 3 years and finally utilization factor of other renewable energy power plants in 2009.

• 한국신재생에너지학회:학술대회논문집
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• 2011.11a
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• pp.150.2-150.2
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• 2011

본 연구에서는 풍력에너지 보급을 위한 신재생에너지정책의 포트폴리오의 구성이라는 최종 목적 하에 먼저 적용 가능 수단 및 주요 쟁점사항에 대하여 고찰해 보았다. 먼저 FIT(Feed in Tariff)와 RPS(Renewable Energy Portfolio) 등 대표적인 신재생에너지 보급 정책들과 선진국 사례들을 중심으로 적용 가능한 그 외의 정책에 대하여 검토해보았다. 또한 이러한 정책을 시행하였을 때 성공여부에 영향을 미칠 수 있는 국내 주요 정책 변수에 대하여 조사해 보고, 향후 예상되는 국내 산업환경변화를 고려하여 장기적 전략수립을 위한 기초 연구를 수행하고자 하였다. 특히 이 과정에서 신재생에너지산업정책에서 공통된 주요 이슈들과 블레이드의 대형화나 해상풍력발전 등 풍력산업에서 차별화되어 나타나는 이슈에 대하여 검토하고 이러한 이슈들을 정책 포트폴리오 구성에 충분히 반영할 수 있도록 함으로써 현실과 동떨어진 정책연구가 되지 않도록 노력하였다. 이러한 연구는 신재생에너지 강국으로 도약하기 위하여 태양광과 풍력산업을 중심으로 다양한 발전전략을 세우고 있는 우리나라에서 풍력발전산업의 활성화를 위한 장기전략 수립에 기여할 수 있는 정책적 함의를 제공할 수 있을 것이다.

• International Journal of Advanced Culture Technology
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• v.3 no.1
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• pp.120-128
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• 2015

In this paper, Residential roof top photovoltaic system with 9.9 kW design is proposed. The system composed of 200 Watts solar array 33 panels connecting in series 10 strings and parallels 3 strings which have maximum voltage and current are 350 V and 23.8 A. The 10 kW sinusoidal grid-connected inverter with window voltage about 270-350 is selected to convert and transfer DC Power to AC Power at PCC (Point of Common Coupling) of power system following to utility standard. However the impact of fluctuation and uncertainty of weather condition of PV may decrease the voltage stability and voltage collapse of power system. In order to solve this problem the energy storage such 120 V 1200 Ah battery bank and 30 kVAR capacitor are designed for voltage stability control. The other expensed for installing the system such battery charger, cable, accessories and maintenance cost are concerned. The economic analysis by using investment from money loan with interest about 7% and use own money which loss income of deposit about 3% are calculated as 671,844 and 547,044 for PV system with energy storage and non energy storage respectively. The solar energy from PV is about 101,616 Bath per year which evaluated by using the value of $5kWh/m^2/day$ from average peak sun hour (PSH) of the Thailand and 6.96 Bath/kWh of Feed in Tariff Incentive. The payback periods of four scenarios are proposed follow as i) PV system with energy storage and use loan money is 15 years ii) PV system with no energy storage and use loan money is 10 years iii) PV system with energy storage and use deposit money is 9 years iv) PV system with energy storage and use deposit money is 7 years. In addition, the other scenarios of economic analysis such no FIT support and other type of economic analysis such NPV and IRR are proposed in this paper.

• Current Photovoltaic Research
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• v.2 no.4
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• pp.182-188
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• 2014

For the dissemination of new and renewable energy, Korean government introduced a renewable portfolio standard (RPS) scheme in 2012 after terminating feed-in tariff (FIT) scheme that was introduced in 2004. With the RPS scheme, 64.7% of its own goal (95.7% in PV and 63.3% in non-PV) was achieved in 2012 and 67.2% of that (94.9% in PV, 65% in non-PV) was achieved in 2013. The deployment of PV systems met the goal very well and that of non-PV did not. Recently, Korean government revised the target year of supplying 10% electricity from new and renewable energy from 2022 to 2024 and released a couple of measures on PV area. Recent studies showed that the bankability of a project plays a key role for PV dissemination. Therefore, the dissemination should be assessed from the point of bankability under the RPS scheme and a little adjustment is necessary to achieve the goal. Especially, installing a small size PV (<100 kwp) system needs a minimum REC price or a FIT scheme. In non-PV area, permission process is a common bottleneck and the related regulation should be eased. In addition, to achieve the long term goal, an implementing scenario has to be prepared. Currently, the portion of the waste-gas energy originated from fossil fuel is too large among the new and renewable energy sources and the portion should be lowered or eliminated in the 10% of electricity supply goal. Seoul Metropolitan Government (SMG) has its own FIT scheme for PV dissemination from 2014 SMG and revised the PV tariff from 50 to 100 won/kwh in effective of 2015. It is worth to spread the other provinces.

• 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.