• KIEE International Transactions on Power Engineering
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• v.5A no.1
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• pp.70-78
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• 2005

This paper analyzes the environmental impact and economic effect of introducing the Renewable Portfolio Standard (RPS) into the Korean electricity market using the DECADES (Database and Methodologies for Comparative Assessment of Different Energy Sources 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 the Thailand externality study carried out by EGAT. The results of this study can be applied in determining or analyzing the national electricity policy and energy policy.

• Journal of Energy Engineering
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• v.14 no.2 s.42
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• pp.82-97
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• 2005

RPS (Renewable Portfolio Standards) is a policy tool to disseminate renewable energies through market mechanism. RPS promotes renewable power generation by obligating electricity market participants to deliver the required amount of electricity from renewable energies. To promote and encourage renewable energies, Korean government is considering to introduce RPS to domestic market in the near future. The purpose of this paper is to analyze the definition and market mechanism of RPS and to review key considerations in its design. In conclusion, we recommend some prerequisite in its introduction to Korea.

• 한국신재생에너지학회:학술대회논문집
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• 2011.05a
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• pp.140-140
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• 2011

Korea's RPS, which requires that power generation companies obtain a minimum percentage of their generation by using renewable energy, will take effect in 2012. Based on the first-year law enforcement, generation companies have to satisfy 2% of RPS compliance ratio in 2012. Then, the required RPS compliance ratio will increase up to 10% in 2022. Thus generation companies need to construct power plants that utilize various types of renewable energy sources such as PV and wind power. This work is aimed to analyze the cost of such a renewable power source in terms of capital cost, capacity factor, and fuel cost. We provide the analytical expectation on the renewable power generation cost of 2012 focusing on PV, onshore/offshore wind, fuel cell, and IGCC, which are focused by government policy.

• 한국신재생에너지학회:학술대회논문집
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• 2011.05a
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• pp.139.2-139.2
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• 2011

Compared with a traditional power system of electricity providers, distributed power systems consist of power suppliers which are small and demand-oriented. Each small power supplier tends to utilizes renewable energy sources such as solar and wind power. It is because that home renewable energy systems do not need a large scale infrastructure which is required for traditional power plants. In this work we study an economic feasibility of such a renewable energy source. We describe how renewable power generation works and what it brings in terms of economic benefits. Also, we analyze limitations by the current policy and their possible solutions.

• Nuclear Engineering and Technology
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• v.51 no.6
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• pp.1689-1695
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• 2019

This study suggests a simple economic model to analyze electricity grid that consists of different power sources. The substitutability of renewable energy for nuclear power in Korean electricity transmission network is investigated by suggested model. The monthly data from January 2006 to December 2013 reported by Electricity Power Statistics Information System (EPSIS) of Korea Power EXchange (KPX) are used. To estimate the elasticities of substitution among four power sources (i.e. coal, natural gas, nuclear power, and renewable energy), this paper uses the trans-log cost function model on which local concavity restrictions are imposed. The estimated Hicks-Allen and Morishima elasticity of substitution shows that renewable electricity and nuclear power are complementary. The results also evidenced that renewable electricity and fossil fueled thermal power generation are substitutes.

• 한국신재생에너지학회:학술대회논문집
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• 2005.11a
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• pp.15-47
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• 2005

• New & Renewable Energy
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• v.18 no.3
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• pp.72-84
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• 2022

As the threat of climate change escalates, 'net-zero' has become a priority for the international community, and the use of new and renewable energy sources is expected to play a significant role in reaching international carbon neutrality. Here, we evaluate technological competitiveness in terms of implementation and technology by analyzing scientific literature and patents in the new and renewable energy fields of five major countries. For the past 10 years (2009-2019), the most active areas of new and renewable energy research and development have been solar power, wind power, waste, and fuel cells. China is the forerunner in implementation, whereas the United States has the most advanced technology. Portfolio analysis revealed that Korea's fuel cell, the United States' bioenergy, China's waste, Japan's solar and fuel cell, and the European Union's wind power have shown to be in Star Field respectively. Technological competitiveness analysis found that Korea is lagging behind other countries in the new and renewable energy sector, and needs to set a new direction for future carbon-neutral research and development, investment, and policy.

• Journal of the Korean Solar Energy Society
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• v.31 no.1
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• pp.51-58
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• 2011

The energy makes the basic element which improves the quality of life with motive power of industry and life. However, using the fossil fuel resources was restricted through it's abuse and exhaustion, and that cause a global warming resultingly. According to the reason, the world increased the interest that are stability and use of new and renewable energy which is clean energy with environment. Therefore, the property data of new and renewable is needed for developing and supplying the energy. In other words, the data of new and renewable energy becomes the standards for supply and evaluation of new and renewable energy with development of industry and technology. Also, the necessity came to the fore as the reference and standards of new and renewable energy data. Therefore, in this study, we evaluate and collect the solar radiation data as the new and renewable data and process the collected data through the standards for valuation. We evaluate uncertainty with standards which are NREL, WMO, and GUM. Whereby the data becomes reference standards data and gains the credibility. For the reliability data, we correct the measuring instrument with correction period. Using the DQMS and SERI QC, we efficiently manage and evaluate the solar radiation data. As a result, we evaluate uncertainty as 1,120 case about 16 area. we achieve credibility of data from evaluated solar radiation data and provide an accurate information to user. The annual average of horizontal radiation presents between 1,484 and 4,577, then the uncertainty evaluates from 163 to 453. The error of uncertainty presents smaller than the measurement values. So, we judge a credibility of data by expression of reliability quantitatively. In additional, the reference standards data which is possible to approach anywhere will be used for the supporting related industry and policy making.

• Journal of Energy Engineering
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• v.26 no.4
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• pp.107-117
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• 2017

Since South Korea started to apply Renewable Portfolio Standard (RPS) in 2012, there have been huge investment for deploying renewable technologies. Recently, the government determined to incentivize battery energy storage system(BESS) with renewable generations in order to induce the improvement of dispatching capability. In this paper, the annual pattern of PV generation based on actual generation data in South Korea is analyzed and the duration curve of capacity factor is proposed in order to provide the simplified analyzing methodology of present support policy for additional BESS installation for decision maker who is responsible for supply and demand planning. With suggested methodology, the range of appropriate BESS size with respect to the variation of system marginal price(SMP) and renewable energy certificate(REC) price can be derived briefly, and decision makers easily evaluate the effect of support scheme. Current policy for BESS installation support present additional BESS-related installation policy may give incentives to developers partially, however, the dependence between BESS size and benefit components (SMP and REC) can limit the deployment of the various portfolios of the BESS. Therefore, when improving the current policy in future, addressing the dependence between the technical aspects of battery size and the benefit components separately by the technical and economical parts is needed to set the suitable compensation rules for the renewable generation and BESS.

• New & Renewable Energy
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• v.18 no.2
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• pp.60-72
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• 2022

The environmental, social, and governance (ESG) score is gaining recognition as important nonfinancial investment criteria. With climate change emerging as a global issue, energy companies must pay attention to the ESG impact on corporate performance. In this study, the ESG impact on the performance of energy companies was analyzed based on 23 companies selected from the S&P 500. The panel corrected standard error methodology was used. The Refinitiv ESG score was the independent variable, and financial performance metrics, such as Tobin's Q, return on assets, and return on equity, were the dependent variables. It was found that the ESG score is positively associated with long-term corporate value but not with short-term profitability in the electricity utility industry. Among the subcategories of ESG, the environmental and social scores also showed positive correlations with long-term corporate value. A direct incentive policy is recommended that can offset expenses for ESG activities to reduce carbon emission in the energy sector.