• Environmental and Resource Economics Review
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• v.22 no.1
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• pp.99-125
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• 2013

Renewable energy industry not only has a promising future but also has more risk than conventional energy industry because of its characteristics. Therefore, in this study, an analysis of domestic renewable energy company risk has been performed. The risk of domestic wind and photovoltaic energy companies has been analyzed by using time varying beta model. The model has been constructed based on risk factors like firm size, firm diversification index, domestic installation, and so on. The principal result of analysis can be summarized as follows. First, risk factors affect domestic renewable energy companies have been discovered. Variables like firm size, growth rate of debt ratio, firm diversification index are statistically significant. I found that large firms are less riskier than small firms. It is also confirmed that companies with high diversification index and high debt ratio have high risk. Second, I got the result that policy factors like domestic renewable energy installation and government R&D expenditure could decrease risk of domestic renewable energy company. Third, relative sensitivity of each risk factor have been discovered. The effect of each variable gets bigger in this order: growth rate of domestic installation, firm size or diversification index, growth rate of debt ratio, growth rate of government R&D expenditure.

• Architectural research
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• v.18 no.2
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• pp.59-64
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• 2016

Since the massive power outages that hit across the nation in September 2011, a growing imbalance between energy supply and demand has led to a severe backup power shortage. To overcome the energy crisis which is annually repeated, a policy change for deriving energy supply from renewable energy sources and a demand reduction strategy has become essential. Buildings account for 18% of total energy consumption and have great potential for energy efficiency improvements; it is an area considered to be a highly effective target for reducing energy demand by improving buildings' energy efficiency. In this regard, retrofitting buildings to promoting environmental conservation and energy reduction through the reuse of existing buildings can be very effective and essential for reducing maintenance costs and increasing economic output through energy savings. In this study, we compared the energy reduction efficiency of national power energy consumption by unit production volume based on thermal power generation, renewable energy power generation, and initial and operating costs for a building retrofit. The unit production was found to be 13,181GWh/trillion won for bituminous coal-fired power generation, and 5,395GWh/trillion won for LNG power generation, implying that LNG power generation seemed to be disadvantageous in terms of unit production compared to bituminous coal-fired power generation, which was attributable to a difference in unit production price. The unit production from green retrofitting increased to 38,121GWh/trillion won due to the reduced energy consumption and benefits of greenhouse gas reduction costs. Renewable energy producing no greenhouse gas emissions during power generation and showed the highest unit production of 75,638GWh/trillion won, about 5.74 times more effective than bituminous coal-fired power generation.

• International Journal of Highway Engineering
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• v.14 no.2
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• pp.37-44
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• 2012

Natural disasters such as hurricanes, floods frequently occurs in the world. The cause of the natural disasters that occurs due to global warming because of increasing of global greenhouse gas emissions. To prevent the global warming, lots of researchers are studying renewable energy area. In order to protect grobal warming, government is trying to reduce green gas emissions under "Low Carbon Green Growth Policy" and investing climiate-friendly industries such as renewable energy harvesting. Research team is developing a renewable energy system that harvests mechanical energy imparted to road from driving vehicles and generates it into renewable electricity. This paper presents the research results of size effect of the piezoelectric ceramic and connection of piezoelectric ceramics. Power characteristics of piezoelectric ceramic as function of experimental variables were measured and analyzed.

• Journal of the Korean Solar Energy Society
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• v.40 no.2
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• pp.1-10
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• 2020

Korea government published renewable energy obligation policy that public building must be supplied some part of total consumption energy (2019: 27%, 2020: 30%). RETScreen is freely available global energy tool that developed by Canadian National Energy Laboratory to quantify energy saving to compare conventional system. This program can be performed energy modeling, cost analysis, greenhouse gas emission analysis and financial analysis. In this study, GSHP (Ground source heat pump) heating and cooling system were studied for the energy deliverly and ROI (Return On Investment) in an office building. Three cases were studied according to the number of HP (Heat pump) units for the 1,000㎡ office building located in Daejeon. Results indicated that the energy delivery of the case 1 (1 HP unit) covered 57% of the office building heating and cooling energy consumption. The case 2 (2 HP units) covered 87.8% and the case 3 (3 HP units) covered 96.8% of the office building energy consumption. The ROI of the case 1 indicated 7.9 years. While 8.2 years for the case 2 and 9.7 years for the case 3.

• Journal of The Korean Society of Agricultural Engineers
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• v.61 no.3
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• pp.89-99
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• 2019

The project to utilize kenaf as thermal power plant fuel has a positive effect on the unused energy utilization, greenhouse gas reduction, and farm income. However, it is analyzed that it is difficult to secure economical efficiency because the fuel cost of kenaf is higher than that of power by thermal power plant and Renewable Energy Certification (REC). The project of power generation using kenaf is meet the government's major policies, while government support is essential for securing economical efficiency. As a result of the sensitivity analysis on the ratio of the government subsidies, to secure economical efficiency, the power generation prices using kenaf through the direct financial support of the government indicate that 47% and 76% of kenaf fuel cost are supported by government in case of the Saemangeum reclamation and Gangneung-si, respectively. In the case of the government indirect policy support, if kenaf is included as a renewable energy source of Renewable Energy Portfolio Standard and REC is granted, the economic efficiency of Saemangeum reclamation and Gangneung-si is obtained when REC secured at 1.05 or more and 2.43 or more, respectively. The results of this study are meaningful in that the direct and indirect effects of the government on the development of the herbaceous energy crop, kenaf, were evaluated economically. These results are to suggest the need for demonstration study, but economics analyze and evaluate are necessary based on operational data through the demonstration phase in the future.

• Journal of Korea Technology Innovation Society
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• v.12 no.4
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• pp.788-818
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• 2009

Renewable energy refers to solar energy, biomass energy, hydrogen energy, wind power, fuel cell, coal liquefaction and vaporization, marine energy, waste energy, and liquidity fuel made out of byproduct of geothermal heat, hydrogen and coal; it excludes energy based on coal, oil, nuclear energy and natural gas. Developed countries have recognized the importance of these energies and thus have set the mid to long term plans to develop and commercialize the technology and supported them with drastic political and financial measures. Considering the growing recognition to the field, it is necessary to analysis up-to-now achievement of the government's related projects, in the standards of type of renewable energy, management of sectional goals, and its commercialization. Korean government is chiefly following suit the USA and British policies of developing and distributing renewable energy. However, unlike Japan which is in the lead role in solar rays industry, it still lacks in state-directed support, participation of enterprises and social recognition. The research regarding renewable energy has mainly examinedthe state of supply of each technology and suitability of specific region for applying the technology. The evaluation shows that the research has been focused on supply and demand of renewable as well as general energy and solution for the enhancement of supply capacity in certain area. However, in-depth study for commercialization and the increase of capacity in industry followed by development of the technology is still inadequate. 'Cost-benefit model for each energy source' is used in analysis of technology development of renewable energy and quantitative and macro economical effects of its commercialization in order to foresee following expand in related industries and increase in added value. First, Investment on the renewable energy technology development is in direct proportion both to the product and growth, but product shows slightly higher index under the same amount of R&D investment than growth. It indicates that advance in technology greatly influences the final product, the energy growth. Moreover, while R&D investment on renewable energy product as well as the government funds included in the investment have proportionate influence on the renewable energy growth, private investment in the total amount invested has reciprocal influence. This statistic shows that research and development is mainly driven by government funds rather than private investment. Finally, while R&D investment on renewable energy growth affects proportionately, government funds and private investment shows no direct relations, which indicates that the effects of research and development on renewable energy do not affect government funds or private investment. All of the results signify that although it is important to have government policy in technology development and commercialization, private investment and active participation of enterprises are the key to the success in the industry.

• Journal of Environmental Impact Assessment
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• v.20 no.5
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• pp.585-600
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• 2011

South Korean central government has launched the first comprehensive climate change policies in 1999, and they have been renewed every three year. The third policies ended in 2007. However, it is quite rare to analyze whether the climate change policies are effective against climate change. In this context, this paper aims at analyzing the effectiveness of climate change policy which was launched for seven years from 1999 to 2007 in South Korea. The effectiveness analysis of policy can be done in terms of the individual policy and/or all policies being synthesized as a comprehensive unit. Employing the latter methodology, this paper analyzed the effectiveness on the basis of economic growth as independent variable, greenhouse gas emission as dependent variable, and energy use and its process as intervening variable. Seven analytic indicators covering the three variables were selected on the basis of two points in time before and after climate change policy having been launched. The seven indicators were analyzed in terms of three aspects. They were the change in the state of each indicator, the effectiveness of climate change policy from 1999 to 2007, and the effectiveness process from 1999 to 2007. The effectiveness process was analyzed in terms of the relational context and its flow processing path. Economic growth was advanced remarkably with increase in the total consumption of energy. As a result, greenhouse gas emission increased. However, energy efficiency increased with significant decrease in energy intensity, carbon intensity, and energy elasticity. The expansion of new and renewable energy over total energy supply was not effective significantly on the decrease in greenhouse gas emission. The processing path of climate change policy being effective advanced toward increase in energy efficiency through energy intensity rather than toward sustainable development. Such a way of the effectiveness of climate change policy implies that most policies focused on adaptation rather than on mitigation.

• Proceedings of the KIEE Conference
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• 2008.11a
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• pp.482-484
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• 2008

본 연구는 신재생에너지 발전차액지원제도의 기준가격이 보급규모를 제어할 수 없는 제도적 한계를 보완하여 시스템적으로 기준가격이 조정될 수 있는 유연감소율 메커니즘을 제안한다. 제안한 유연감소율 메커니즘은 시장의 보급규모에 따라 기준가격을 시스템적으로 조정함으로써 시장여건의 반영체계를 갖추어 가격조정에 대한 이행당사자간의 이해상충 문제를 완화하는 수단으로 활용될 수 있다.

• 한국신재생에너지학회:학술대회논문집
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• 2006.11a
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• pp.226-229
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• 2006

현재 직면하고 있는 고유가 고착화, $CO_2$ 저감 의무화에 대비하기 위해서는 신재생에너지 보급 확대는 필수적이며, 현재로서는 신재생에너지 시설중 보급효과가 큰 분야가 바로 태양열시스템이다. 그런데 태양열시스템 보급을 확대하기 위해서는 시스템의 신뢰성 향상은 물론이고 보급이 효과적으로 확대될 수 있는 분야에 대한 시스템 적용기술의 개발에 따른 산업화이다. 여기서는 지금까지의 보급문제점, 기술개발 현황 및 산업육성 정책 분석을 통해 국내 태양열산업 발전방향을 살펴보았다.

• Journal of the Korean Professional Engineers Association
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• v.43 no.5
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• pp.35-40
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• 2010

The world economy is threatened by rising oil prices due to the depletion of resources, and climatic changes are intensified due to rapid increase of greenhouse gases emission. Global warming is recognized as a worldwide problem not only as national level one, collaborative efforts are in progress actively. The fact is that the development of new & renewable energy which can replace fossil fuel and preserve the environment is the key of the attention in accordance with "low carbon, green growth" policy of our government. Biogas is an energy source. And the best part of using biogas is that wastes are treated in its production process.