• Korean Journal of Construction Engineering and Management
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• v.18 no.2
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• pp.91-98
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• 2017

Due to climate change, countries around the world are actively investing in renewable energy, reducing fossil fuel use. 23.7% of world electricity is supplied by renewable energy. As the technology continues to develop, it is in a level to compete in terms of power generation cost, and investment conditions are improving. However, investment in renewable energy projects is not easy. This study analyzed trends of domestic and international researches on economics assessment applying real options analysis to investment decisions of hydro, solar, and wind power projects, which account for a large portion of renewable energy. This study provides (1) the difference between the traditional economic method and the real options analysis, (2) the application process, and (3) the uncertainty elements and option type of the renewable energy project presented by many studies. The real options analysis is suitable for the detailed investment strategy by considering the uncertainties of the renewable energy project and applying the option to improve the profit or to avoid the risk.

• Proceedings of the KIEE Conference
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• 2005.07a
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• pp.733-735
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• 2005

Korea adopted feed-in-tariff system to disseminate the renewable energy generation in 2002, and amended twice this system in October 2003 and October 2004. It is weil known that feed-in-tariff system have been made with noticeable results in Europe countries. In Korea, however, there are many debatable issues about Korea's feed-in-tariff system, such as tariff level, operational period(the term of guarantee). assessment techniques This paper surveys and re-considers several problems and issues which have been discussed during the last two years.

• Journal of Korean Society of Rural Planning
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• v.14 no.2
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• pp.25-32
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• 2008

Wind energy, which is one of renewable energy, would be useful resources that can be applied to making energy recycling villages without using fossil fuels. This study analyzed energy potential on wind power considering weather condition in three rural villages and compared with energy consumption surveyed. A wind turbine system in the 5kW class can generate 26.1%, 73.9% and 39.5% of the yearly mean consumption of electric power per house in Makhyun, Boojang and Soso respectively. A 750kW wind turbine system can generate 1.7%, 30.3% and 22.1% of the total amount of electric power consumption in three study villages respectively. Wind power energy density was too low in Makhyun and Soso, so it is determined that the application of wind turbine system is almost impossible. Wind energy potential was generally low in Boojang either, but it is evaluated that there is a little possibility of wind power generation relatively. For practical application of renewable energy to rural green-village planning, assessment of energy potential for the local area should be preceded.

• 한국신재생에너지학회:학술대회논문집
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• 2011.11a
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• pp.140.2-140.2
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• 2011

Renewable energy(RE) systems have difficulties in operating and management due to the intermittency of the energy generation. Stochastic supply profiles of RE creates problems for mechanical and electrical design in relation to the selection of technology types and capacities of RE to be installed. This paper presents an methodology of the feasibility assessment of RE-integrated energy systems on the basis of hourly demand/supply analysis tools. Also, this paper shows the feasibility and the usefulness of GS REMA(Renewable Energy Matching Analysis) and HOMER by comparing actual energy data.

• Journal of the Korean Solar Energy Society
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• v.39 no.4
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• pp.41-54
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• 2019

The proportion of solar photovoltaic power generation has steadily increased in the power trade market. Solar energy forecast is highly important for the stable trade of volatile solar energy in the existing power trade market, and it is necessary to identify accurately any forecast error according to the forecast lead time. This paper analyzes the latest study trend in solar energy forecast overseas and presents a consistent comparative assessment by adopting a single statistical variable (nRMSE) for forecast errors according to lead time and forecast technology.

• New & Renewable Energy
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• v.19 no.3
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• pp.1-12
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• 2023

This study aims to evaluate the optimal size of the hydrogen facility to be installed in a zero-energy district in terms of load matching and facility efficiency. A mismatch between energy generation and consumption is a common occurrence in zero-energy districts. This mismatch adversely effects the energy grid. However, using an energy carrier such as hydrogen can solve this problem. To determine the optimal size of hydrogen fuel cells to be used on-site, simulation of hydrogen installation is required at both district-and building- levels. Each case had four operating schedules. Therefore, we evaluated eight scenarios in terms of load matching, heat loss, and facility operational efficiency. The results indicate that district-level installation of hydrogen facilities enables more efficient energy use. Additionally, based on the proposed model, we can calculate the optimal size of the hydrogen facility.

• 한국신재생에너지학회:학술대회논문집
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• 2011.11a
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• pp.54.1-54.1
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• 2011

The conventional energy-production system by burning fossil fuels releases many pollutants and carbon dioxide($CO_2$) to the environment. Therefore, many countries pay attention to new and renewable energy and invest in the development of these new technologies for the future energy security. One of the most promising of these technologies is a photovoltaic system. In this study, Life Cycle Assessment(LCA) is carried out to analyse the environmental issues(e.g. global warming, abiotic resource depletion) of CdTe photovoltaic system. The spatial and temporal scope of this study was set in Korea during 2004~2005. We assumed that CdTe photovoltaic system was installed in Mokpo where the amount of solar irradiation was higher than other places in Korea. Based on the present data and some assumptions, greenhouse gas emission was 39.2g $CO_2$-eq./kWh. Therefore the electricity produced by CdTe photovoltaic system is more environmentally friendly than the conventional power generation system.

• New & Renewable Energy
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• v.20 no.2
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• pp.44-54
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• 2024

The objective of this study was to contribute to domestic offshore wind farms by reasonably predicting the expected completion time and installed power generation capacity of offshore wind projects in South Korea. Offshore wind power is drastically regarded as a core tool for clean energy transition and industrial decarbonization in the fight against the climate crisis globally. Especially in South Korea offshore wind power is the main tool in partaking in RE100 and K-RE100, and the Korean government aims to install 14.9 GW of offshore wind farms by 2030. However, this seems to have been significantly delayed due to the complex process of obtaining permits for offshore wind power in Korea. Thus, a reasonable prediction of power generation and a timeline for the final construction are imperative. To establish the delay time for permit licenses, classified location factors were included into site analysis. These factors comprised reviews of transmission and military operability, environmental impact assessment, maritime traffic safety examination, wind resource assessment and an analysis of current offshore wind projects. According to the analysis, the majority of offshore wind projects currently being developed in Korea are predicted to be delayed by 3-5 years as they are among the criteria included in key discussion points for obtaining permits. The cumulative installed power capacity and annual power generation after construction are expected to be 37 GW and 97 TWh respectively.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.53 no.5
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• pp.275-284
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• 2004

This paper analyzes the environmental impact and economic effect of introducing the Renewable Portfolio Standard (RPS) into Korean electricity market using the DECADES (Database and Methodologies for Comparative Assessment of Different Energy Source for Electricity Generation) model, a comparative assessment tool developed by IAEA. A bottom up approach is adopted for the evaluation of air pollutant emission and its impact of several RPS scenarios. The environmental damage costs of RPS scenarios are evaluated based on the Extern-E results and Thailand externality study carried by EGA T. The results of this study can be applied in determining or analyzing the national electricity policy and energy policy.

• New & Renewable Energy
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• v.5 no.4
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• pp.11-18
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• 2009

Wind energy resources are recently considered as an important power generation alternative in the future. The fact that the investment of wind turbine installation continues to increase has motivated a need to develop more widely applicable methodologies for evaluating the actual benefits of adding wind turbines to conventional generating systems. This study is aiming to estimate the future wind resources with various estimation methods. The wind power is calculated at the hub height 75m of 800KW and 1,500KW wind turbines in Wolryong site, Jeju island, South Korea. Three equations - logarithmic, profile, and power law methods are applied for the accurate prediction of wind profile. In addition, yearly wind power can be calculated by using Weibull & Rayleigh distribution. It is found that predicted wind speed is highly affected by friction velocity, atmospheric stability, and averaged roughness length. It is concluded that Rayleigh distribution provides greater power generation than the Weibull distribution, especially for low wind-speed condition.