• Journal of Korean Institute of Industrial Engineers
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• v.40 no.2
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• pp.195-204
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• 2014

The transition from fossil to renewable energy is inevitable due to fossil depletion. So, Renewable energy is very important for energy security and economic growth although it's R&D is long-term and high risky project. We propose new valuation method which combined system dynamics and compound real option method for long-term and high risk projects such as renewable energy. This method can show dynamic valuation results for the complex causal interaction and be easy for Monte-Carlo simulation to estimate volatility. And it can reflect the value of flexible decision for uncertainty. We applied the empirical analysis for Korea's photovoltaic industry by using this method. As results by empirical analysis, photovoltaic's R&D has high valuation using this method compared by traditional valuation methods such as DCF.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.16 no.1
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• pp.97-115
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• 2022

Smart power grid is a user friendly system that transforms the traditional electric grid to the one that operates in a co-operative and reliable manner. Demand Response (DR) is one of the important components of the smart grid. The DR programs enable the end user participation by which they can communicate with the electricity service provider and shape their daily energy consumption patterns and reduce their consumption costs. The increasing demands of electricity owing to growing population stresses the need for optimal usage of electricity and also to look out alternative and cheap renewable sources of electricity. The solar and wind energy are the promising sources of alternative energy at present because of renewable nature and low cost implementation. The proposed work models a smart home with renewable energy units. The random nature of the renewable sources like wind and solar energy brings an uncertainty to the model developed. A stochastic dual descent optimization method is used to bring optimality to the developed model. The proposed work is validated using the simulation results. From the results it is concluded that proposed work brings a balanced usage of the grid power and the renewable energy units. The work also optimizes the daily consumption pattern thereby reducing the consumption cost for the end users of electricity.

• Journal of the Korean Solar Energy Society
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• v.32 no.5
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• pp.75-82
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• 2012

This study aims to investigate the usage of the renewable energy systems installed in buildings and make suggestions for the effective management. In this regard, a questionnaire survey was conducted on 1)design and construction, 2) operation and management, 3) user satisfaction and improvements about the renewable energy systems in buildings. Findings from this study can be summarized as follows; a lack of the basic information about systems, non-use of energy management systems, the differences in the features by energy source, and a lack of expertise of managers. The requirements to resolved these problems include the integrated management of various electric heat sources including a renewable energy source, an operation schedule based on the prediction of production and consumption, and so on. Furthermore the necessity of multiplex energy sources management system was confirmed and the basic data needed to establish the targets of this system were obtained.

• New & Renewable Energy
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• v.17 no.3
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• pp.1-7
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• 2021

The Korean government announced various energy policies, such as the to reduce 37% of the business-as-usual (BAU) greenhouse gas emissions by 2030. The policies aim to increase the renewable electricity generation ratio to 20% by 2030. PVT is a hybrid technology, which combines photovoltaic (PV) and solar collectors. It is capable of generating electricity and thermal energy simultaneously. It has a great potential to be used as a renewable and clean solar energy. However, there exists a shortage of space for the installation of PVT systems in Korea. To overcome this, in this paper proposes four types of soundproof wall PVT air channels, which were designed and optimized, based on the CFD (Computation Fluid Dynamic) analysis results. The thermal energy generation for multiple PVT units connected in series and pressure drop sensitivity were analyzed, depending on inlet velocity.

• Journal of the Korean Solar Energy Society
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• v.36 no.6
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• pp.13-24
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• 2016

The government introduced a mandatory installation system of new & renewable energy for public building to meet the target of greenhouse gas reduction and also suggest a correction factor for new renewable energy to expand the installation of various new & renewable energy systems. The introduction of correction factors, however, was followed by the reduction of installation size of new & renewable energy sources. Assuming that it was caused by a correction factor for each new renewable energy source calculated by the initial costs, this study proposed a new correction factor approach based on payback periods to reflect the technology element in the calculation process of correction factors additionally. The application results of new correction factors show that it was possible to do complex calculations including the economic and technological aspects to select a new & renewable energy system and that the installation size was also enlarged.

• 한국신재생에너지학회:학술대회논문집
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• 2008.10a
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• pp.163-163
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• 2008

• New & Renewable Energy
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• v.2 no.2 s.6
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• pp.108-117
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• 2006

This paper focus on power development options for remote islands. Recently, in accordance with progress in distributed generation technologies including renewable energy sources, many options are possible as power development option for island. At first we estimate generation cost by generation technology then recommend and suggest some countermeasures and implementation for institutional improvement.

• Journal of the Korea Convergence Society
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• v.12 no.6
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• pp.139-150
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• 2021

Currently, the RPS(Renewable Portfolio Standard) is the policy which supplies new and renewable energy. Power generation companies with large capacity should produce renewable energy or secure through the purchase of REC (Renewable Energy Certificates) as mandatory. The government has revised the REC weight several times, which weights each energy source by evaluating the economic and social value of renewable energy sources, and revised the mandatory supply ratio to gradually increase. This study helps to find the impact of policies on related industries. In this study, time-series analysis and regression analysis on the capacity of PV(Photovoltaics) facilities as a dependent variable were performed to analyze the effect of the revision of the REC weight for photovoltaic power generation and the amount of mandatory supply for renewable energy. As a result, it was statistically assessed that the revision of the REC weight and the increase in the mandatory supply has a significant effect on the increase in the amount of PV facilities.

• Journal of Advanced Technology Convergence
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• v.2 no.3
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• pp.1-7
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• 2023

The problem of climate change is intensifying around the world, and the increasing use of fossil fuels is causing a variety of problems. In particular, interest in renewable energy is increasing due to the acceleration of carbon neutrality policies. In this study, we utilized SCOPUS DB to identify trends in renewable energy research. We obtained 1,353 data for which abstracts were available and performed data preprocessing to analyze them. Topic modeling analysis showed that renewable and energy were the most important keywords. In addition, electricity, solar, wind, etc. were analyzed as important keywords. Through the results of this study, it is expected that practitioners of renewable energy-related companies can utilize the research trends related to renewable energy in practice.

• 한국신재생에너지학회:학술대회논문집
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• 2007.11a
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• pp.658-661
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• 2007

It was investigated on this paper that the status of biomass energy utilization in the registered CDM projects. The ratio of the case including the energy recovery among the registered biomass CDM projects is just about 57%. Direct thermal conversion technology is the most commonly applied for biomass energy recovery projects. Through the comparative study with world renewable energy outlook, the contribution of CDM to biomass energy supply in the world is not considerable yet.