• 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 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.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.26 no.5
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• pp.199-205
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• 2014

The integration of FC (Fuel Cell) and GSHP (Ground Source Heat Pump) hybrid system could produce a synergistic advantage in thermal and electric way. This study intends to analyse the economical aspect of a FC integrated GSHP hybrid system compared to the conventional system which is consisted with a boiler and a chiller. Based on the hourly simulation, the study indicated that GSHP system and FC+GSHP hybrid system could reduce the energy consumption on a building. The method of the economic assessment has been based on IEA ECBCS Annex 54 Subtask C SPB(Simple Payback) method. The SPB was calculated using the economic balanced year of the alternative system over the conventional (reference) system. The SPB of the alternative systems (GSHP and FC+GSHP) with 50% initial incentive was 4.06 and 26.73 year respectively while the SPB without initial incentive of systems was 10.71 and 57.76 year.

• Plant Journal
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• v.8 no.1
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• pp.73-80
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• 2012

The structure and combustion characteristics, and the economic feasibility of the circulating fluidized bed combustion(CFBC) boiler using low grade coal were introduced. The economic feasibility is evaluated by comparing a 500 MW CFBC boiler power plant using low grade coal and a pulverized combustion boiler power plant with high grade coal. As the result of the evaluation, the pulverized coal combustion boiler power plant has an internal rate of return of 12.95%, 1,395.9 billion Korean won of net present value, and 6.26 years of payback period. On the other hand, CFBC boiler power plant has an internal rate of return of 13.54%, 1,704.3 billion Korean won of net present value, and 6.02 years payback period. Therefore, the CFBC boiler power plant has better feasibility in all aspects, as 0.59% higher of internal rate of return, 308.4 billion Korean won of higher net present value and 0.24 year of shorter payback period.

• International journal of advanced smart convergence
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• v.8 no.4
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• pp.26-33
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• 2019

We conducted research to evaluate economically and engineering about the synthesis of Magnesium Oxide, MgO, nanoparticles using physicochemical methods. The method used was economic evaluation by calculating GPM, BEP, PBP, and CNPV. The other method used was engineering perspective. MgO nanoparticles were synthesized by reacting Mg(NO₃)₂ and NaOH with a mole ratio 1: 2. Mg(OH)₂ formed was heated and calcined to remove water content and to oxidation to form MgO. An economic evaluation by calculating GPM and CNPV for the production of MgO nanoparticles on an industrial scale shows that the payback period (PBP) occur in the third year and profits increase each year. Tax variations show that the higher of tax, the lower profits received. When there was an increase of selling prices, the profit was greater. The variable cost used is the price of raw material. When there was an increased in the variable cost price, the payback period was longer and the profits was reduced. The benefit of this research is knowing the industrial production of MgO nanoparticles is beneficial. The function of MgO nanoparticles is a material for the manufacture of ceramics and can be used as an antimicrobial in the water filtration process.

• Journal of the Korean Society of Marine Environment & Safety
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• v.26 no.3
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• pp.262-268
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• 2020

The IMO (International Maritime Organization) has mandated the restriction of SOx emissions to 0.5 % for all international sailing vessels since January 2020. And, a number of countries have designated emission control areas for stricter environmental regulations. Three representative methods have been suggested to cope with these regulations; using low-sulphur oil, installing a scrubber, or using LNG (Liquefied Natural Gas) as fuel. In this paper, economic analysis was performed by comparing the method of installing a scrubber with the method of using low-sulphur oil without installing additional equipment. We suggested plausible layouts and compared the pros and cons of dif erent scrubber types for retrofitting. We selected an international sailing ship as the target vessel and estimated payback time and benefits based on navigation route, fuel consumption, and installation and operation costs. Two case of oil prices were analyzed considering the uncertainty of fuel oil price fluctuation. We found that the expected payback time of investment varies from 1 year to 3.5 years depending on the operation ratio of emission control areas and the fuel oil price change.

• 한국신재생에너지학회:학술대회논문집
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• 2007.06a
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• pp.737-741
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• 2007

This paper analyses the environmental effect of 100kw PV system installed in Tibet using Life Cycle Assessment(LCA). Then, energy payback time(EPT) and life-cycle $CO_2$ emission rate are estimated based on life-cycle of the PV system. As a result of the estimation, 6 year of EPT and 20 g-C/kWh of $CO_2$ emission rate are obtained. In China, average $CO_2$ emission rate of fossil fuel power generation plant is 260 g-C/kWh. This shows that PV system would be very promising for global environmental issues. For advanced LCA, we need to collect detailed and various data about raw material of PV system.

• New & Renewable Energy
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• v.3 no.2 s.10
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• pp.11-16
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• 2007

This paper analyses the environmental effect of 100kw PV system installed in Tibet using Life Cycle Assessment(LCA). Then, energy payback time(EPT) and life-cycle CO2 emission rate are estimated based on life-cycle of the PV system. As a result of the estimation, 6 year of EPT and 20 g-C/kWh of CO2 emission rate are obtained. In China, average CO2 emission rate of fossil fuel power generation plant is 260 g-C/kWh. This shows that PV system would be very promising for global environmental issues. For advanced LCA, we need to collect detailed and various data about raw material of PV system.

• Journal of the Korean Society for Geothermal and Hydrothermal Energy
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• v.10 no.1
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• pp.7-13
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• 2014

This study intends to analyse the economical aspect of a GSHP(Ground Source Heat Pump) system compared to the conventional system which is consisted with a boiler and a chiller. This study has simulated four systems in Incheon. It developed and analyzed for applications in a residential and an office building which was based on the hourly EPI(Energy Performance Index, $kWh/m^2yr$). Case 1 is utilizing a boiler and a chiller to meet heating and cooling demand of a house. Case 2 is utilizing the same conventional set up as Case 1 of a office. Case 3 is summation of Case 1(house) and 2(office) systems and loads. And Case 4 is utilizing a GSHP to meet the combined loads of the house and office. The method of the economic assessment has been based on IEA ECBCS Annex 54 Subtask-C SPB(Simple Payback) method. The SPB calculated the economic balanced year of the alternative system over the reference system. The SPB of the alternative systems (GSHP) with 10%, 30% and 50% initial incentive has been calculated as 9.38, 6.72 and 4.06 year respectively while the SPB without initial incentive of systems was 10.71 year.

• Journal of the Korean Society for Geothermal and Hydrothermal Energy
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• v.7 no.1
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• pp.23-31
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• 2011

The objectives of this study are to analyze the performance of a heat pump system with the various heat source and to carry out economic assessment for the heat pump system. The COP of the river water and ground source heat pump system was 20% higher than that of the air source heat pump system because river water and geothermal provide stable operating temperature compared with air temperature throughout the year. In addition, the economic assessment of a heat pump system using air, river water, and geothermal as a heat source was carried out. The ratio of the life cycle operating cost to the life cycle cost increased with the increase of building capacity. The payback period was found to be less than 3.3 and 4.5 years, respectively when the capacity of the river water and ground source heat pump was larger than 10 RT.