• Journal of Electrical Engineering and Technology
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• v.12 no.5
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• pp.1777-1788
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• 2017

This paper presents the design and dynamic analysis of a stand-alone microgrid with high penetration of renewable energy. The optimal sizing of various components in the microgrid is obtained considering two objectives: minimization of levelized cost of energy (LCOE) and maximization of renewable energy penetration. Integrating high renewable energy in stand-alone microgrid requires special considerations to assure stable dynamic performance, we therefore develop voltage and frequency control method by coordinating Battery Energy Storage System (BESS) and diesel generators. This approach was applied to the design and development of Gasa Island microgrid in South Korea. The microgrid consists of photovoltaic panels, wind turbines, lithium-ion batteries and diesel generators. The dynamic performance of the microgrid during different load and weather variations is verified by simulation studies. Results from the real microgrid were then presented and discussed. Our approach to the design and control of microgrid will offer some lessons in future microgrid design.

• Transactions of the Korean hydrogen and new energy society
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• v.29 no.4
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• pp.363-369
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• 2018

This paper considers the alternative way to mitigate cost for REC instead of Photovoltaic (PV) panels with Energy Storage System (ESS). This study starts from an economic analysis of a 1 megawatt PV system without ESS. Several assumptions have been applied in consideration of the current domestic situation. Based on this result, the economic efficiency of PV with ESS improved. However, the reliance on government subsidies was very high. The alternative way to cover the fluctuation power from renewable energy was reviewed with economical and technical way. In case the natural gas engine applied to PV, the IRR and Levelized Cost of Electricity (LCOE) can be improved without ESS. And if small amount of additional REC, the IRR can be improved up to investment level.

• New & Renewable Energy
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• v.16 no.1
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• pp.1-14
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• 2020

Liquid air energy storage (LAES) using gas liquefaction has attracted considerable attention because of its mature technology, high energy density, few geographical constraints, and long life span. On the other hand, LAES has not yet been commercialized and is being developed recently. Therefore, few studies have performed an economic analysis of LAES. In this study, the levelized cost of electricity was calculated and compared with that of other energy storage systems. As a result, the levelized cost of electricity of LAES was $371/MWh. This is approximately $292/MWh, $159/MWh, $118/MWh, and $3/MWh less than that of the LiCd battery, VRFB battery, Lead-acid battery, and NaS battery. In addition, the cost was approximately $62/MWh and $195/MWh more than that of Fe-Cr flow battery and PHS. Sensitivity analysis of the levelized cost of electricity according to the main economic factors was performed, and economic uncertainty analysis was performed through a Monte-Carlo simulation. The cumulative probability curve showed the levelized cost of electricity of LAES, reflecting price fluctuations in the air compressor cost, electricity cost, and standing reserve hourly fee.

• Current Photovoltaic Research
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• v.9 no.2
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• pp.59-73
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• 2021

The purpose of this study is to develop a business model that efficiently converts diesel power generation systems to renewable energy microgrids (MG) in large-scale islands. Most of the previous studies on the conversion of renewable energy MG in islands had limitations dealing with efficiency from the perspective of suppliers. However, the microgrid has the characteristic of getting benefits through the interaction between the consumer and the supplier. In addition, the efficient MG business model from the perspective of new institutional economics is a structure in which consumers and suppliers jointly participate. Therefore, this study assumed that the MG business model in which the supplier's MG and the consumer's community solar participated would benefit all participants, and verified the assumptions using domestic island data. In terms of supplier investment, the cost of power supply (LCOE) of assumed model was calculated to be 14.0% lower than that of the diesel model and 3.7% lower than that of the supplier-only MG model. From the perspective of consumer investment, electricity bills are expected to be reduced by more than 200,000 won per household per year through self-generation of solar power. Social benefits are expected to reduce external environmental costs. The CO₂ emissions of the assumed model were calculated to be 39.5% lower than the diesel model and 1.5% lower than the supplier-only MG model. Therefore, the MG business model with consumer participation proposed in this study is expected to be an efficient alternative to renewable energy MG conversion in domestic islands, and is meaningful as an energy plan that improves the benefits of local residents.

• Current Photovoltaic Research
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• v.10 no.2
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• pp.56-61
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• 2022

Recently, the expansion of the domestic solar market due to the promotion of eco-friendly and alternative energy-related policies is promising, and it is expected to lead the high-efficiency/high-power module market based on M10 or larger cells to reduce LCOE, 540-560W, M12 based on M10 cells Compared to the existing technology with an output of 650-700W based on cells, it is necessary to secure competitiveness through the development of modules with 600W based on M10 cells and 750W based on M12 cells. For the development of high efficiency/high-power n-type bifacial, it is necessary to secure a lightweight technology and structure due to the increase in weight of the glass to glass module according to the large area of the module. Since the mechanical strength characteristics according to the large area and high weight of the module are very important, design values such as a frame of a new structure that can withstand the mechanical load of the Mechanical Load Test and the location of the mounting hole are required. In this study, a structural analysis design model was introduced to secure mechanical reliability according to the enlargement of the module area, and the design model was verified through the mechanical load test of the actual product. It can be used as a design model to secure the mechanical reliability required for PV modules by variables such as module area, frame shape, and the location and quantity of mounting holes of the structural analysis model verified. A relationship of output drop can be obtained.

• Environmental and Resource Economics Review
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• v.15 no.4
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• pp.693-712
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• 2006

A pre-feasibility test is done for renewable energy hybrid power systems at off~grid islands in which the current power supply is provided only by diesel generation. We apply Homer (Hybrid Optimization Model for Electric Renewables) which was developed by the National Renewable Energy Laboratory (NREL) for the analysis to identify the cost-minimizing combination of power generating facilities for the given load profiles. Chuja-Do, Geomun-Do and Youngsan-Do have been selected for our analysis considering the wind resources data of the Korea Institute of Energy Research (KIER). Information on wind speed, solar radiation and temperature is also used for the analysis. System component cost information from overseas market has been used due to the lack of domestic information. Site specific Load profile for electricity demand for those islands are reconstructed based on the partial survey results obtained form other sources. The LCOE of the least cost hybrid power systems for Chuja-Do, Geomun-Do and Youngsan-Do are $0.278/kWh, $0.234/kWh and $0.353/kWh, respectively Considering the fact that diesel generation is being subsidized at the price of $0.300/kWh by the government, first 2 cases are economically feasible for the introduction of renewable energy hybrid systems to those islands. But the third case of Youngsan-Do does not meet the criteria. The basic differences of these pre-feasibility test results are from the differences of the site specific renewable energy conditions, especially wind resources. In summary, promoting hybrid systems in the off-grid remote island should be based on the economic feasibility test results. Not all the off-grid islands are feasible for introducing this renewable energy hybrid system.

• Korean Chemical Engineering Research
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• v.55 no.3
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• pp.332-340
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• 2017

This study aims to propose a new optimization-based approach for design and analysis of the stand-alone hybrid energy supply system using renewable energy sources (RES). In the energy supply system, we include multiple energy production technologies such as Photovoltaics (PV), Wind turbine, and fossil-fuel-based AC generator along with different types of energy storage and conversion technologies such as battery and inverter. We then select six different regions of Korea to represent various characteristics of different RES potentials and demand profiles. We finally designed and analyzed the optimal RES stand-alone energy supply system in the selected regions using multiobjective optimization (MOOP) technique, which includes two objective functions: the minimum cost and the minimum $CO_2$ emission. In addition, we discussed the feasibility and expecting benefits of the systems by comparing to conventional systems of Korea. As a result, the region of the highest RES potential showed the possibility to remarkably reduce $CO_2$ emissions compared to the conventional system. Besides, the levelized cost of electricity (LCOE) of the RES-based energy system is identified to be slightly higher than conventional energy system: 0.35 and 0.46 $/kWh, respectively. However, the total life-cycle emission of $CO_2$ ($LCE_{CO2}$) can be reduced up to 470 g$CO_2$/kWh from 490 g$CO_2$/kWh of the conventional systems.

• Environmental and Resource Economics Review
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• v.28 no.1
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• pp.147-176
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• 2019

This paper uses research on the Levelized Cost of Electricity (LCOE) in South Korea to conduct a simulation analysis on the impact of nuclear power dependency and usage rates on the social costs of power generation. We compare the $7^{th}$ basic plan for long-term electricity supply and demand, which was designed to increase nuclear power generation, to the $8^{th}$ basic plan for long-term electricity supply and demand that decreased nuclear power generation and increased renewable energy generation in order to estimate changes in social costs and electricity rates according to the power generation mix. Our environmental generation mix simulation results indicate that social costs may increase by 22% within 10 years while direct generation cost and electricity rates based on generation and other production costs may increase by as much as 22% and 18%, respectively. Thus we confirm that the power generation mix from the $8^{th}$ basic plan for long-term electricity supply and demand compared to the $7^{th}$ plan increases social costs of generation, which include environmental external costs.