• Journal of the Korean Society for Geothermal and Hydrothermal Energy
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• v.12 no.2
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• pp.13-18
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• 2016

Energy saving has been main concern, thus government supporting policies which are based on Fundamentals of Low-carbon Green Growth Act', 'Green Building Support Act, have been prepared in Korea. The objective of this study is to estimate energy conservation effectiveness and economic advantage assuming that lighting equipments and heat source equipments would be retrofitted. Office building, which has total floor area of $30,000m^2$, was a subject of this study. From the estimations, electric rate will be decreased by 62,886,000 won per year due to lighting equipments retrofit, and gas rate will be decreased 11,141,000 won or 17,332,000 won per year due to heat source equipments retrofit (in case of COP 1.2 or 1.5). Payback period of each case that are calculated by energy saving cost and retrofit cost are estimated 27.9 year, 38.6 year and 29.2 year, thus economic supporting policies is necessary for effective energy saving in buildings. Meanwhile payback period of heat source equipment for new building is estimated 6.1 year and 8.3 year.

• Journal of the Korean Solar Energy Society
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• v.27 no.2
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• pp.87-93
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• 2007

The demand for solar electric power systems, namely, photovoltaic system has grown steadily in our country over the last 10 years. However, the main obstacle against using photovoltaic system is the financial viability especially concerned with initial cost. The other factors affecting the economic viability of photovoltaic system are cost of electric energy, amount of electric energy produced by the photovoltaic system, discount rate, energy cost escalation rate, inflation rate, project life, and so on. Therefore, this thesis studies on the effect of various relating factors on economic evaluation of photovoltaic system in residential building by calculating payback period.

• Journal of the Korean Society for Geothermal and Hydrothermal Energy
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• v.13 no.2
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• pp.16-21
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• 2017

In this study, the flow effect of warming and cooling in the air supply of a pit for air conditioning were evaluated in BS art museum. We simulated the flow temperature for a pit winter and summer seasons using computational fluid dynamics. Consequential, energy saving, energy saving costs and initial payback periods were calculated and the following conclusions were drawn. The warming effect of the winter increased by $18.1^{\circ}C$ and $0.2^{\circ}C/m$ and the cooling effect of the summer decreased by $6.1^{\circ}C$ and dropped to $0.07^{\circ}C/m$. Energy saving appeared to be 19.1 kW in the summer and 54.3 kW in winter. Energy saving costs ranged from 2,567,119 won/year to 5,134,238 won/year and at minimum, initial payback period for initial investment was 3.9 years. As a result, the air supply system using an existing pit without any burden on initial investment costs is believed to contribute to energy saving through warming and cooling of unutilized energy effects.

• Journal of the Korean Solar Energy Society
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• v.27 no.4
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• pp.175-182
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• 2007

Geothermal-energy has been getting popular as a natural energy source for green buildings these days. As a result Geothermal Source Heat Pump System (GSHPs) was being recognized effective alternative systems to conventional heating and cooling systems owing to their higher energy utilization efficiency. But GSHPs has not been popularized thereby the large amount of initial cost of the system and insufficiency of studies for economic estimation. Therefore GSHPs are being developed to make up for the weak points that are the large amount of initial cost of the system and much annual electricity consumption. In this paper, economic estimation was conducted by payback period method and it shows that the pay back period of Heat Storage Type GSHPs was calculated 6.8 years compared with the absorption Chiller-Heater system and 8.2 years compared with the Ice storage-Boiler system. Heat Storage Type GSHPs also has the lower annual source energy consumption than the conventional heating and cooling systems because of using nighttime electricity.

• Journal of Korean Institute of Industrial Engineers
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• v.39 no.1
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• pp.55-60
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• 2013

VNA(Very Narrow Aisle) forklift trucks require narrower aisle width than traditional counter-balanced trucks do because only the fork assembly turns in the aisle instead of the entire body of the truck. Substituting the VNA trucks for the existing counter-balanced trucks will result in the significant increase of revenue due to the increased storage capacity in the distribution centers. In this study, we present an economic analysis model for the substitution, in which we present a closed-form equation for the number of racks to stay unmoved, while maximizing the additional storage capacity; and resulting payback period of the substitution. A case study shows the payback period of only 8.1 months, indicating that this substitution is very profitable.

• IE interfaces
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• v.17 no.spc
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• pp.62-68
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• 2004

HAPS (High Altitude Platform Station) which is defined as a station located on an object at an altitude of 20 to 50 km and at a specified, nominal, fixed point relative to the earth is a promising technology capable of providing broadband multimedia services. In this study, economical aspects of HAPS service are analyzed by estimating the revenue and costs incurred by the service. To evaluate the profitability of HAPS service, the number of subscribers is estimated and then the net present value (NPV), payback period, and the rate of return on investment (ROI) are calculated under various scenarios.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.25 no.1
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• pp.42-49
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• 2011

PV(Photovoltaic) system is environmentally friendly power system using solar energy in renewable energy. PV system compared to other renewable energy power generation systems is relatively easy to install, so the dissemination is increasing worldwide. Especially, BIPV(Building Integrated Photovoltaic) is a system that PV modules are installed on the building and use renewable energy. But this system is difficult to apply due to the shadow of adjacent buildings and limited installation. In this study, payback period is calculated by Retscreen 2010, that is an economic assessment software of renewable energy, on applied to the bridge of PV system. As results, this study aims at actively considering the application.

• Proceedings of the KIEE Conference
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• 2015.07a
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• pp.611-612
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• 2015

Prediction algorithm of the energy storage system in accordance with the load pattern can cause economic loss in case of a failure prediction. In this paper, we compare the electricity charge between industrial power system with ESS - this case's operation is based on Non-prediction operation method. - and without ESS. In addition, we derive the payback period.

• 한국태양에너지학회:학술대회논문집
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• 2011.11a
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• pp.338-341
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• 2011

Water usage for cleaning the toilet bowl accounts for 27% of the total water usage. Water-saving valve that can select the amount of water for cleaning toilet bowl can be reduced expenditure. After installing water-saving valve, analysed the economic effects. Water-saving valves compared with flush valves, and researched the amount of water usage. Then analyzed fort he economic effects. Water-saving valve was used 5.6 ${\ell}/time$ for cleaning toilet bowl. In contrast, flush valve was consumed 8.4 ${\ell}/time$. Water-saving valve's water-saving rate was 33.3%. The initial payback period for Water-saving valve was 459.5 days. By a small investment in water saving valve, the economic benefits can be obtained.

• Journal of the Korean Society for Geothermal and Hydrothermal Energy
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• v.15 no.1
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• pp.9-17
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• 2019

Reducing global warming potential has become important, and as one of those methods for reducing it, economic evaluation by applying ice thermal storage air conditioning system was performed. The floor area and height of the subject building was assumed $5,000m^2$ and 20 m. Absorption chillerheater system and air source heat pump system was used for comparing to the subject system, and payback period method was used to perform economic evaluation. Although the running cost of ice thermal storage system is reduced compared to two systems, the ratio is not significant compared to the increase of initial construction expenses, and payback period was calculated to be about 7.7 and 79.3 years. However, the heat storage system should be approached from the viewpoint of long term rather than the economic standard in the present standard.