• KDI Journal of Economic Policy
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• v.41 no.4
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• pp.67-99
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• 2019

This paper, focusing on the renewable portfolio standard (RPS), evaluates alternative renewable energy policies. We propose a tractable equilibrium model which provides a structural representation of Korea's electricity market, including its energy settlement system and renewable energy certificate (REC) transactions. Arbitrage conditions are used to define the core value of REC prices to identify relevant competitive equilibrium conditions. The model considers R&D investments and learning effects that may affect the development of renewable energy technologies. The model is parameterized to represent the baseline scenario under the currently scheduled RPS reinforcement for a 20% share of renewable generation, and then simulated for alternative scenarios. The result shows that the reinforcement of the RPS leads to higher welfare compared to weakening it as well as repealing it, though there remains room to enhance welfare. It turns out that subsidies are welfare-inferior to the RPS due to financial burdens and that reducing nuclear power generation from the baseline yields lower welfare by worsening environmental externalities.

• 한국태양에너지학회:학술대회논문집
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• 2011.11a
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• pp.99-104
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• 2011

This paper describes a design strategy at conceptual design stage using RETScreen software tool for building application of renewable energy resources. Currently, government and public buildings are required to adopt renewable energy systems with a minimum requirement for the amount of renewable energy supply. Meanwhile, there is a certificate program for private office buildings to enhance propagation of renewable energy systems. When considering application of renewable energy systems to a building, it is worthwhile developing a method to determine optimal design sizes of renewable energy systems. In the paper, a design strategy is introduced with a couple of case studies to determine optimal capacities of each renewable energy system in a building and suggest to use the method to evaluate the system for the building certificate program and the mandatory renewable target program. Objective functions considered in the study are initial system cost and reduction of CO2 emissions from the system. In the optimization study, it is assumed that solar thermal collectors are installed to satisfy solar fraction of 60%. Other renewable energy systems such as ground-source heat pump, solar PV and non-renewable systems such as electric chiller and gas-fired boiler are sized using an optimal sizing method with RETScreen suggested the authors previously.

• 한국태양에너지학회:학술대회논문집
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• 2009.04a
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• pp.27-30
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• 2009

In this paper, we introduce the status of certificate test on crystalline silicon photovoltaic module in Korea. Up to 3. 2009, about 149 models have passed certificate test under KS C IEC61215 standard. Most products are from Korea, Japan, China. And some are from USA, German and Taiwan. A few environmental test items' results and standard test methods will be discussed. The detail discussion will be shown in the following paper.

• Journal of Energy Engineering
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• v.19 no.4
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• pp.251-257
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• 2010

Korea have a plan to enforce the Renewable Portfolio Standard(RPS) in 2012 for climate change action and effective use of energy but because of lack of renewable energy resources and limits of technology development, it will be hard to fullfill a target for RPS obligation in domestic power generation sector and woodchip biomass cofiring with coal combustion is the one of the alternative methods of the goal. Woodchip biomass cofiring with coal combustion is easy to approach technical design and has competitiveness of $CO_2$ & renewble energy certificate benefit and also has much lower generation cost than any other renewable energy resources. Because of that reason, woodchip biomass cofiring with coal combustion should be needed to fullfill the goal for RPS obligation in domestic power generation sector with midlong-term direction.

• Journal of the Korean Solar Energy Society
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• v.37 no.1
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• pp.59-69
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• 2017

In 2012, Korea introduced a Renewable Portfolio Standard (RPS) scheme, replacing the Feed-in Tariff (FIT) scheme as a market support policy of renewable energy in the electricity market. RPS is to allocate obligatory quota of renewable energy sources for electricity suppliers, whereas FIT is to guarantee high prices for electricity from renewable energy sources. This study examines the effect of this policy change on solar photovoltaic market. According to the study, solar PV market grew fast under FIT as well as under RPS. However, under RPS the size of subsidy for solar PV suppliers was shrunk substantially. In addition, market risk increased severly under RPS due to the volatility of price of renewable energy certificate (REC) as well as of the electricity market price. The small and medium suppliers of solar PV were suffered the most severly from these policy effects. Therefore, the policy reform of RPS is needed to alleviate the market risk of small and medium suppliers of solar PV.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.67 no.8
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• pp.1009-1018
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• 2018

As the generation of renewable energy increases rapidly, the stability of the grid due to its intermittency becomes a problem. The most appropriate way to solve this problem is to combine and operate the renewable generators with the ESS(Energy Storage System). However, since the revenues of operating the ESS are less than the investment cost, many countries are implementing various incentive policies for encouraging investment of the ESS. In this paper we estimated optimal capacity of the ESS to maximize profits of renewable energy generation businesses under the incentive policy of Korea and analyzed the impact of the incentive policy on the future electric power system of Jeju island. The simulation results show that the incentive policy has significantly improved the profitability of the renewable energy businesses generation business. But the volatility of the net demand has increased as the energy stored in the ESS is discharged intensively at the time of the incentive application.

• Journal of Energy Engineering
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• v.26 no.2
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• pp.99-120
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• 2017

In SS branch of Korea District Heating Corporation, Combined Heat & Power power plant with 99MW capacity and 98Gcal / h capacity is operated as a district electricity business. In this region, it is difficult to operate the generator due to the problem of surplus heat treatment between June and September due to the economic recession and the decrease in demand, so it is urgent to develop an economical energy new business model. In this study, we will develop an optimized operation model by introducing a renewable energy hybrid system based on actual operation data of this site. In particular, among renewable energy sources, fuel cell (Fuel Cell) power generation which can generate heat and electricity at the same time with limited location constraints, photovoltaic power generation which is representative renewable energy, ESS (Energy Storage System). HOMER (Hybrid Optimization of Multiple Energy Resources) program was used to select the optimal model. As a result of the economic analysis, 99MW CHP combined cycle power generation is the most economical in terms of net present cost (NPC), but 99MW CHP in terms of carbon emission trading and renewable energy certificate And 5MW fuel cells, and 521kW of solar power to supply electricity and heat than the supply of electricity and heat by 99MW CHP cogeneration power, it was shown that it is economically up to 247.5 billion won. we confirmed the results of the improvement of the zone electricity business condition by introducing the fuel cell and the renewable energy hybrid system as the optimization process model.

• The Transactions of the Korean Institute of Electrical Engineers P
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• v.67 no.1
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• pp.21-26
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• 2018

Due to the international environmental regulations and changes in policies, the demand for generators using the renewable energy is increasing. However, renewable energy generators with intermittent output characteristics such as solar and wind power generators, need the buffer facilities such as ESS during system operations. However, because of low price competitiveness in energy storage system, it is difficult to operate the renewable energy generator with ESS. Therefore, the government has recently proposed a policy to compensate the REC for renewable energy system with ESS. For all this, since the initial cost of the ESS is high, it is the most important to calculate and operate the optimal capacity of the ESS through an economic analysis. In this paper, we proposed the method of calculation the optimal capacity of ESS and analyzed economic feasibility of renewable energy system using the ESS according to depreciation in ESS price.

• Current Photovoltaic Research
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• v.11 no.4
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• pp.124-133
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• 2023

In order to deploy the large-scale energy storage (ES) service in the various industry, it is very important to develop a business model with high technological and economic feasibility through detailed valuation of cost and expected benefits. In relation to this, this paper established an optimal scheduling plan for electric vehicle charging stations connected with photovoltaic (PV) and ES technologies in Korea using the distributed energy resource valuation tool and analyzed the feasibility of the project. In addition, the impact of incentives such as REC (Renewable Energy Certificate) to be given to electric vehicle charging stations in accordance with the relevant laws to be revised in the future was analyzed. As a results, the methodology presented in this paper are expected to be used in various ways to analyze the feasibility of various business models linked to renewable energy and ES technologies as well as the electric vehicle market.

• Journal of Energy Engineering
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• v.23 no.4
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• pp.106-111
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• 2014

In order to manage the gradual increase of electricity demand, the United States, Japan, and Europe are seeking to achieve overall change of electric power system by introducing solutions such as smart grid. Among these solutions, there are various research projects regarding the Electricity Storage System (ESS), which aims to promote the efficient usage of electricity and grid system of new and renewable energy system. Korean government revised the law by including ESS in new and renewable energy facilities to accelerate ESS deployment. Following the same direction of the government policy, this study suggests methodologies of setting REC weighted value that guarantees investment financial feasibility when new and renewable power producers install ESS.