• Korean Chemical Engineering Research
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• v.54 no.3
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• pp.320-331
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• 2016

Linze-Donawitz gas (LDG) adjunctively produced in the steel mill contains over 60% of CO. Two processes that recover high purity CO from LDG were considered: COSORB and CO-Pressure swing adsorption (PSA). This study aimed to decide which one is more economically feasible than the other by techno-economic analysis (TEA). From the technical point of view of TEA, the process flow diagram (PFD) was constructed, the mass and energy balances were calculated, and the equipment type and size were determined in order to estimate the total capital investment (TCI) and the total production cost (TPC). From the economic point of view of TEA, economic performance such as return on investment (ROI) and payback period (PBP) was evaluated, and the sensitivity analysis was carried out to identify key factors influencing ROI and PBP. It was found that CO-PSA is more economically feasible due to higher ROI and lower PBP. The CO price highly influenced ROI and PBP.

• 한국전기화학회:학술대회논문집
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• 2005.07a
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• pp.405-410
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• 2005

• Transactions of the Korean hydrogen and new energy society
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• v.16 no.3
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• pp.296-305
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• 2005

최근 수소에너지가 환경문제를 해결해 줄 수 있는 대체에너지로 각광받으면서 수소에너지의 사용이 가지고 올 새로운 에너지 체제에 대한 시나리오 연구가 다양하게 수행되고 있다. 수소 기술-경제체제의 가능한 시나리오를 제시하는 것은 미래 사회에서 수소가 에너지 운반체로서 담당하게 될 역할을 명확히 할 수 있음과 동시에 에너지라는 거대한 기술-경제체제의 변화를 위해 현재 수행해야 할 에너지 정책과 전략에 대해 큰 시사점을 줄 수 있기에 의미가 있다. 본 연구는 수소의 생산, 저장 및 운반, 그리고 응용분야에서의 다양한 기술의 SWOT 분석을 통해 가능한 시나리오를 단기와 장기로 나누어 제시했다. 그 결과 앞으로의 수소 기술-경제체제의 구조는 기술적 완성도 뿐 아니라 사회적 수용성, 사회적 적응성 등 외부의 환경변화에도 많은 영향을 받음을 알았다. 그렇기 때문에 수소에너지에 관한 전략과 정책은 이러한 변동을 충분히 고려하면서 결정돼야 한다.

• Proceedings of the Korean Institute of IIIuminating and Electrical Installation Engineers Conference
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• 2009.10a
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• pp.255-258
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• 2009

This paper gives a feasibility reference of integrating power automation for digital substation. An overview and techno-economical potential of IEC61850 are introduced. The result of economic analysis is shown to save up to one-third of the total cost of automation installation. The gained benefits can be used to increase the economy and reliability of electrical power system.

• Transactions of the Korean hydrogen and new energy society
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• v.34 no.3
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• pp.235-245
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• 2023

Techno-economic analyses on a 5-MW water electrolysis system for hydrogen production, operated in Jeju Island where the portion of renewable energy in the power grid is the highest in Korea, have been performed. The cost of hydrogen production and the economic feasibility of the hydrogen production system have been mainly analyzed based on the levelized-cost-of-hydrogen model. The effects of carbon emission trading and renewable power purchase method have been considered to reduce the cost of green hydrogen production in the case studies. This economic analysis model is expected to be used to derive a business model for green hydrogen production.

• KEPCO Journal on Electric Power and Energy
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• v.2 no.1
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• pp.109-113
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• 2016

Techno-economic evaluation of Non-Capture $CO_2$ Utilization (NCCU) technology for the production of high-value-added products using greenhouse gas ($CO_2$) was performed. The general scheme of NCCU process is composed of $CO_2$ carbonation and brine electrolysis process. Through a carbonation reaction with sodium hydroxide that is generated from brine electrolysis and $CO_2$ of the flue gas, it is possible to get high-value-added products such as sodium bicarbonate, sodium hydroxide, hydrogen & chloride and also to reduce the $CO_2$ emission simultaneously. For the techno-economic study on NCCU technology, continuous operation of bench-scale facility which could treat $2kgCO_2/day$ was performed. and based on the key performance data evaluated, the economic evaluation analysis targeted on the commercial chemical plant, which could treat 6 tons $CO_2$ per day, was performed using the net present value (NPV) metrics. The results showed that the net profit obtained during the whole plant operation was about 7,890 mKRW (million Korean Won) on NPV metrics and annual $CO_2$ reduction was estimated as about $2,000tCO_2$. Also it was found that the energy consumption of brine electrolysis is one of the key factors which affect the plant operation cost (ex. electricity consumption) and the net profit of the plant. Based on these results, it could be deduced that NCCU technology of this study could be one of the cost-effective $CO_2$ utilization technology options.

• Advances in Energy Research
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• v.8 no.1
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• pp.59-71
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• 2022

Increasing cost of electricity due to rising price of fuel is one of the local community's main issues. In this research, switching of grid dependent system to the grid-tied Photovoltaic (PV) system with net metering for a residential building is proposed. The system is designed by considering the maximum energy demand of the building. The designed system is analyzed using RETScreen on technical, economic and environmental grounds. It is found that the system is able to produce 12,000 kWh/year. The system is capable to fulfill the electricity demand of the building during day time and is also capable to sell the energy to the local grid causing the electric meter to run in reverse direction. During night time, electricity will be purchased from grid, and electric meter will run in the forward direction. The system is economically justified with a payback period of only 3 years with net present value of PKR. 4,758,132. Also, the system is able to reduce 7.2 tons of CO₂ not produced in the entire life of the project.

• Journal of Electrical Engineering and Technology
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• v.13 no.2
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• pp.659-668
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• 2018

This paper proposes an optimization approach of a grid-connected photovoltaic and wind hybrid energy system including energy storage considering voltage fluctuation in the electricity grid. A techno-economic analysis is carried out in order to minimize the size of hybrid system by considering the benefit-cost. Lithium-ion battery type is used for both managing the electricity selling to the grid and reducing voltage fluctuation. A new technique is developed to limit the voltage perturbation caused by the solar irradiance and the wind speed through determining the state-of-charge of battery for every hour of a day. Improved particle swarm optimization (PSO) methods, referred to as FC-VACPSO which combines Fast Convergence Particle Swarm Optimization (FCPSO) method and Variable Acceleration Coefficient Based Particle Swarm Optimization (VACPSO) method are used to solve the optimization problem. A comparative study has been performed between standard PSO method and PSO based methods to extract the best size with the benefit cost. A sensitivity analysis has been studied for different kinds and costs of batteries, by considering variable and constant state-ofcharge of battery. The simulations, performed under Matlab environment, yield good results using the FC-VACPSO method regarding the convergence and the benefit cost of the hybrid system.

• Transactions of the Korean hydrogen and new energy society
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• v.32 no.6
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• pp.477-482
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• 2021

Hydrogen production, hydrogen production cost, and utilization rate were calculated assuming four cases of hydrogen production system in combination of photovoltaic power generation (PV), water electrolysis system (WE), battery energy storage system (BESS), and power grid. In the case of using the PV and WE in direct connection, the smaller the capacity of the WE, the higher the capacity factor rate and the lower the hydrogen production cost. When PV and WE are directly connected, hydrogen production occurs intermittently according to time zones and seasons. In addition to the connection of PV and WE, if BESS and power grid connection are added, the capacity factor of WE can be 100%, and stable hydrogen production is possible. If BESS is additionally installed, hydrogen production cost increases due to increase in Capital Expenditures, and Operating Expenditure also increases slightly due to charging and discharging loss. Even in a hydrogen production system that connects PV and WE, linking with power grid is advantageous in terms of stable hydrogen production and improvement of capacity factor.

• Wind and Structures
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• v.31 no.4
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• pp.311-319
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• 2020

India is a developing nation and heavily spends on the development of wind power plants to meet the national energy demand. The objective of this paper is to investigate wind power potential of Ennore site using wind data collected over a period of two years by three parameter Weibull distribution. The Weibull parameters are estimated using maximum likelihood, least square method and moment method and the accuracy is determined using R² and root mean square error values. The site specific capacity factor is calculated by the mathematical model developed by three parameter Weibull distribution at different hub heights above the ground level. At last, the wind energy economic analysis is carried out using capacity factor at 30 m, 40 m and 50 m height for different wind turbine models. The analysis showed that the site has potential to install utility wind turbines to generate energy at the lowest cost per kilowatt-hour at height of 50 m. This research provides information of wind characteristics of potential sites and helps in selecting suitable wind turbine.