• Journal of the Korean Society of Industry Convergence
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• v.23 no.6_1
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• pp.907-915
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• 2020

Specification selection, Layout, specifications and combinations of Power Drives, and Ship motions were studied for FGPP(Floating Gas-fired Power Plants), which are still needed in areas such as the Caribbean, Latin America, and Southeast Asia where electricity is not sufficiently supplied. From this study, the optimal equipment layout in ships was derived. In addition, the difference between engine and turbine was verified through LCOE(Levelized Cost of Energy) comparison according to the type and combination of Power Drives. Analysis of Hs(Significant Height of wave) and Tp(spectrum Peak Period of wave) for places where this FGPP will be tested or applied enables design according to wave characteristics in Brazil and Indonesia. Normalized Sloshing Pressures of FGPP and LNG Carrier are verified using a sloshing analysis program, which is CFD(Computational Fluid Dynamics) software developed by ABS(American Bureau of Shipping). Power Transmission System is studied with Double bus with one Circuit Breaker Topology. A nd the CFD analysis allowed us to calculate linear roll damping coefficients for more accurate full load conditions and ballast conditions. Through RAO(Response Amplitude Operator) analysis, we secured data that could minimize the movement of ships according to the direction of waves and ship placement by identifying the characteristics of large movements in the beam sea conditions. The FGPP has been granted an AIP(Approval in Principle) from a classification society, the ABS.

• New & Renewable Energy
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• v.18 no.1
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• pp.35-45
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• 2022

The renewable energy based MG is becoming one of the prominent solutions for greenhouse gas and constructing less power lines. However, how to procure the economics of MG considering the CO₂ emission and utility network impact is one of major issues as the proportion of renewable resource increases. This paper proposes the feasibility study scheme of campus MG and shows that the LCOE and CO₂ emission can be reduced by utilizing the excess power and introducing hydrogen system and plus DR. For this, the three cases: (a) adding the PV and selling excess power to utility, (b) producing and selling hydrogen using excess power, and (c) participating in plus DR are considered. For each case, not only the topology and component capacity of MG to secure economic feasibility, but also CO₂ emission and utility network effects are derived. If an electrolyzer with a capacity of 400 kW participates in plus DR for 3,730hours/year, the economic feasibility is securable if plus DR settlement and hydrogen sale price are more than 7.08¢/kWh and 8.3USD/kg or 6.25¢/kWh and 8.6USD/kg, respectively. For this end, continuous technical development and policy support for hydrogen system and plus DR are required.

• New & Renewable Energy
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• v.8 no.4
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• pp.21-29
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• 2012

The extensible supply of New & Renewable energy resources desperately needs to counter the high dependence on imported energy, recent high oil prices and the Climate Change Conference, and the government has operated the 'Renewable Portfolio Standard' (RPS) as one of the renewable energy policy from 2012. By analyzing the operation case of combined heat and power plant using the woodchip biomass, we drew the price of wood chip fuel, plant capacity factor, electricity selling price, heat selling price and LCOE value. After analyzing the economic feasibility of 3MWe combined heat and power plant based on the operating performance, the minimum of economic feasibility has appeared to be secured according to the internal rate of return (IRR) is 6.34% and the net present value (NPV) is 3.6 billion won as of 20 years life time after installation, and after analyzing the cases of the economic feasibility of the price of wood chip, plant capacity factor, electricity and heat selling price are changed, the economic feasibility is valuable when the price of wood chip is over 64,000 won/ton, NPV is minus, and the capacity factor is above 46.9%, the electricity selling price is 116 won/kWh and the heat selling price is above 75,600 won/Gcal. When going over the new installation hereafter, we need the detailed review of the woodchip storage and woodchip feeding system rather than the steam-turbine and boiler which have been inspected many times, the reason why is it's hard to secure the suitable quality (constant size) of woodchip by the lack of understanding about it as a fuel because of the domestic poor condition and the calorific value of woodchip is seriously volatile compared with other fuels.

• Journal of Energy Engineering
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• v.27 no.4
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• pp.50-63
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• 2018

The issue of global warming and environmental pollutant has become an international concern due to the widespread use of fossil fuels, and thus waste heat recovery technologies has become important to improve energy utilization. The global market of power generation system using industrial waste heat is rapidly growing at an average rate of 5% due to its advantage of increasing energy efficiency. In order to design an optimal waste heat recovery system, it is necessary to develop a program that offers economic evaluation of each power generating technology according to the heat source conditions. In this paper, the economic analysis module to calculate LCOE is developed and verified the reliability against NETL economic analysis results. As a result of the verification, the error rate is about 6 ~ 7%, which satisfy the accuracy for business feasibility evaluation. In order to enhance the reliability, the module was improved by applying the levelization method used by NETL. As a result of the verification of reliability, the error rate is less than 1% and the accuracy is improved.

• Bulletin of the Korea Photovoltaic Society
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• v.3 no.2
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• pp.55-62
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• 2017

전기차 보급의 확대에 따라 배터리의 사용연한 도래 시 폐배터리의 누적규모도 전기차 판매량에 비례하여 증가할 것으로 보인다. 국가 별 규제로 인해 배터리의 재활용(Recycle) 의무가 있는 자동차 제조사를 중심으로 폐배터리를 재사용(Battery Second Use: B2U)한 ESS(Energy Storage System) 제품을 출시하거나 이를 활용한 실증 과제를 운영 중에 있다. 전기차 배터리의 성능 보증 수준은 통상 초기용량의 80%로, 보증이 완료된 폐배터리를 낮은 가격으로 매입하여 ESS로 활용할 경우 초기용량의 60%까지 사용 후 폐기할 수 있다. 따라서 B2U 제품은 신규 배터리 셀을 사용하는 ESS 제품 대비 가격은 저렴하나, 20년 이상 사용하는 태양광 시스템과 연계 시 4~6회 교체가 필요하다. 이러한 배경에서 본 고에서는 가정용 태양광 시스템에 신규 배터리를 사용한 가정용 ESS 제품과 B2U ESS 제품 연계 시 에너지 균등화 비용(Levelized Cost of Energy: LCOE)을 비교하여 B2U 제품의 경제적 타당성을 추정한다.

• New & Renewable Energy
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• v.17 no.2
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• pp.1-8
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• 2021

We estimated the price range of electricity transactions under the prosumer system, considering the spread of renewable energy and the prospect of introducing a surplus power trading system between power consumers in Korea. The range (min/max) of power transaction prices was estimated by prosumers and consumers who could purchase electricity from utilities if needed. It is assumed that utilities purchased electricity from prosumers and consumers under a Time-of-Use (TOU) rate, trading at a monthly price. The range of available transaction prices according to the amount of power purchased from utilities and the amount of transaction power was also estimated. The price range that can be traded is expected to vary depending on variables such as the TOU rate, purchased and surplus power, levelized cost of electricity, etc.

• Korean Chemical Engineering Research
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• v.50 no.4
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• pp.646-653
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• 2012

We studied the economic evaluations on Korea Institute of Energy Research (KIER)'s $CO_2$ capture process using dry sorbents, and compared the results with those of comparable technologies. Capital and operating costs of the $CO_2$ capture system for 500 MW coal fired power plant were estimated to determine the economic feasibility. LCOE (Levelized Cost of Energy) and $CO_2$ capture cost appeared 32.46$/MWh and 28.15$/ton$CO_2$, respectively. The internal rate of return (IRR), the net present values (NPV), and the payback period (PBP), were calculated by assuming several variables. As the result of calculation, IRR of KIER's $CO_2$ capture system was 15%, NPV was calculated 6,631,000$, and PBP was 5.93 years at $50/t$CO_2$ of CER price. Consequently, this process can compete with other comparative processes using dry sorbents.

• Environmental and Resource Economics Review
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• v.27 no.2
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• pp.261-286
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• 2018

This paper evaluated the economic feasibility of the life extension of Kori unit 1 and Wolsong unit 1 according to the types of the nuclear power plants (NPPs) and the life extension period comparing to the levelized costs of energy (LCOE) of the new NPPs, coal-fired plants (CFPs), and combined cycle gas turbine (CCGTs) which proposed in the $7^{th}$ Basic Plan for Electricity Supply and Demand. The economic feasibility of the life extension of NPPs using LCOE method is affected by the types of NPPs, lifetime extension periods, discount rate, and capacity factor. According to the analysis results, the pressurized light water reactor (PWR) is more economical than the pressurized heavy water reactor (PHWR). Comparing the economical efficiency between the life extension of NPPs and other alternatives, the operation of the PWR for 20 years is more economical than the one of new NPPs and CFPs. However, 20 years of life extension of PHWR is more economical than the CCGTs, but less economical than new NPPs and CFPs. In summary, the 20 years of life extension of the NPPs seems to be more, especially for the PWR, which is more cost effective than other generation alternatives. Therefore, the government policy of the life extension of NPPs need to be a selective approach that simultaneously considers both safety and economics rather than closing all NPPs.

• Korean Chemical Engineering Research
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• v.58 no.3
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• pp.381-389
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• 2020

This study analyzed the optimal electricity cost of a 100% renewable energy source (RES) based system. Especially energy storage system (EES) and supplementary biopower system as well as photovoltaic (PV) and wind power component were included in the proposed RES-based system to overcome the intermittence of RESs and to efficiently balance energy supply and demand. To comparatively analyze the levelized cost of electricity (LCOE) of different RES-based systems, six scenarios were developed according to the involved RESs: PV, wind, PV/wind, PV/biopower, wind/biopower, and PV/wind/biopower systems. We then applied the proposed systems to build a 100% RES-based system in Jeju Island, Korea. As a result, the single component based system, PV and wind power system of 0.18 and 0.28 $/kWh, respectively, cannot compete with the economics of existing electricity grid. However, the optimal LCOE of the hybrid system where PV and wind power are used as main supply options and biopower as supplementary option was identified to be 0.08 $/kWh, which can compete with the economics of an existing electricity grid.

• New & Renewable Energy
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• v.7 no.4
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• pp.10-17
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• 2011

Recently, electricity industry is facing high market uncertainty which has ever had and which increase risks in power market. In this study, we analyze risk factors such as discount rates, initial investment (overnight cost), plant factor, fuel cost, carbon price, etc, for the perspective of investor. For the analysis of risk factors, we used LCOE method. The results of this study show that renewable energy is more affected by plant factor and overnight cost than other risk factors. First, Renewable energy has higher proportion of overnight cost in the total investment than that of other technologies. Second, renewable energy is free of fuel cost and carbon price so plant factor is the most important factor, in other words, competitiveness of renewable energy depends on plant factor. Furthermore, we conducted economic feasibility of wind power and PV in domestic case study. The minimum requirement condition to get profitability is that plant factor 15% and overnight cost \6,000,000/kW and 26%, \2,200,000/kW for PV and Wind Power, respectively.