• Proceedings of the SAREK Conference
• /
• 2005.11a
• /
• pp.235-240
• /
• 2005

Recently urban utility plants in urban areas of Korea, such as energy supply systems, municipal waste incineration systems, sewage treatment systems and so on, have caused some critical troubles, for instance the insensitive response to the seasonal or daily variation of loads, the low system efficiency and inefficient use of energy because of the large-scale system located a great distance. Therefor the design method of optimal integrated system model of various urban utility plants proposed in this study suitably to the present situation of Korea. Also, the effect analysis for the introduction of compound utility plants was studied for a new town model on a 60,000 persons scale. As the results we found that the complex plant was superior to individual urban utility plant in side of the initial investment expenses, the operating cost and other reasons.

• Proceedings of the KIEE Conference
• /
• 1998.11a
• /
• pp.298-300
• /
• 1998

The superconducting magnetic energy storage (SMES) system which has characteristics of high efficiency and rapid response is a way to maximize a utility's generation and transmission capacity. But SMES is required for much capital and operating cost. Therefore, It is important to determine the optimal size of SMES for constructing and operating. In this paper, we proposed a method of determinating an optimal size of a large scale of SMES for energy storage and a small scale of SMES for stabilizing power system.

• Journal of Hydrogen and New Energy
• /
• v.29 no.4
• /
• pp.363-369
• /
• 2018

This paper considers the alternative way to mitigate cost for REC instead of Photovoltaic (PV) panels with Energy Storage System (ESS). This study starts from an economic analysis of a 1 megawatt PV system without ESS. Several assumptions have been applied in consideration of the current domestic situation. Based on this result, the economic efficiency of PV with ESS improved. However, the reliance on government subsidies was very high. The alternative way to cover the fluctuation power from renewable energy was reviewed with economical and technical way. In case the natural gas engine applied to PV, the IRR and Levelized Cost of Electricity (LCOE) can be improved without ESS. And if small amount of additional REC, the IRR can be improved up to investment level.

• International conference on construction engineering and project management
• /
• 2009.05a
• /
• pp.272-275
• /
• 2009

Carbon finance is the investment in Greenhouse Gas (GHG) emission reduction projects in developing countries and countries with economies in transition within the framework of the Kyoto Protocol's Clean Development Mechanism (CDM) or Joint Implementation (JI) and with creation of financial instruments, i.e., carbon credits, which are tradable in carbon market. The additional revenue generated from carbon credits will increase the bankability of projects by reducing the risks of commercial lending or grant finance. Meantime, it has also demonstrated numerous opportunities for collaborating across sectors, and has served as a catalyst in bringing climate issues to bear in projects relating to rural electrification, renewable energy, energy efficiency, urban infrastructure, waste management, pollution abatement, forestry, and water resource management. Establishing additionality is essential for successful CDM project development. One of the key steps is the investment analysis. As guided by UNFCCC, financial indicators such as IRR, NPV, DSCR etc are most commonly used in both Option II & Option III. However, economic indicator such as Economic Internal Rate of Return(EIRR) are often overlooked in Option III even it might be more suitable for the project. This could be due to the difficulties in economic analysis. Although Asian Development Bank(ADB) has given guidelines in evaluating EIRR, there are still large amount of works have to be carried out in estimating the economic, financial, social and environmental benefits in the host country. This paper will present a case study of a CDM development of a 18 MW hydro power plant with carbon finance option in central Vietnam. The estimation of respective factors in EIRR, such as Willingness to Pay(WTP), shadow price etc, will be addressed with the adjustment to Vietnam local provincial factors. The significance of carbon finance to Vietnam renewable energy development will also be addressed.

• Journal of Korean Society of Rural Planning
• /
• v.28 no.4
• /
• pp.127-138
• /
• 2022

In responding to climate change in the agricultural sector, Climate Smart Agriculture (CSA) is an approach to establish a sustainable agricultural system through comprehensive management of technology, policy, and investment. The international community is continually expanding CSA implementation, and it became more important to understand the status of the domestic agriculture system and practices that are relevant to CSA. This study explored the available CSA in domestic agricultural systems and presented the order of relative importance of CSA technology. AHP analysis is employed for the evaluation with the following criteria: productivity, marketability, adaptability, and mitigation. The relative importance is evaluated with six agricultural technologies (soil, crop management, water, energy efficiency, alternative energy, and precision agriculture) in 28 agricultural technology sectors. The results of the AHP analysis showed that 'alternative energy' was found to be a top priority among the agricultural technology sectors, and 'shallow depth drain in rice paddy' was a top priority for agricultural technology. Also, the 'marketability' in soil and water sectors, 'mitigation' in crop management, and 'adaptability' in energy efficiency and alternative energy were given higher priority. The results of this study can be used as a good source for strategic CSA preparation and application.

• Journal of Information Processing Systems
• /
• v.11 no.2
• /
• pp.205-228
• /
• 2015

In this paper, we present a virtual laboratory platform (VLP) baptized Mercury allowing students to make practical work (PW) on different aspects of mobile wireless sensor networks (WSNs). Our choice of WSNs is motivated mainly by the use of real experiments needed in most courses about WSNs. These experiments require an expensive investment and a lot of nodes in the classroom. To illustrate our study, we propose a course related to energy efficient and safe weighted clustering algorithm. This algorithm which is coupled with suitable routing protocols, aims to maintain stable clustering structure, to prevent most routing attacks on sensor networks, to guaranty energy saving in order to extend the lifespan of the network. It also offers a better performance in terms of the number of re-affiliations. The platform presented here aims at showing the feasibility, the flexibility and the reduced cost of such a realization. We demonstrate the performance of the proposed algorithms that contribute to the familiarization of the learners in the field of WSNs.

• Journal of Korean Society of Industrial and Systems Engineering
• /
• v.45 no.4
• /
• pp.21-30
• /
• 2022

To mitigate the environmental impacts of the energy sector, the government of South Korea has made a continuous effort to facilitate the development and commercialization of renewable energy. As a result, the efficiency of renewable energy plants is not a consideration in the potential site selection process. To contribute to the overall sustainability of this increasingly important sector, this study utilizes the Black-Scholes model to evaluate the economic value of potential sites for off-site wind farms, while analyzing the environmental mitigation of these potential sites in terms of carbon emission reduction. In order to incorporate the importance of flexibility and uncertainty factors in the evaluation process, this study has developed a site evaluation model focused on system dynamics and real option approaches that compares the expected revenue and expected cost during the life cycle of off-site wind farm sites. Using sensitivity analysis, this study further investigates two uncertainty factors (namely, investment cost and wind energy production) on the economic value and carbon emission reduction of potential wind farm locations.

• Journal of Climate Change Research
• /
• v.2 no.2
• /
• pp.115-131
• /
• 2011

Out of all the possible actions that can be taken to respond to greenhouse gas reduction, including development of greenhouse gas reduction technology, infrastructure, actions to improve energy saving and efficiency, and offset with carbon emission reductions (CERs), this study shall focus on the investment on CERs. This study will take a look at risks involved with investing in CERs such as UN registration refusal risk and CERs price fluctuation, and will design risk management model which shall be verified. The goal of this paper is to provide optimized CERs investment strategies for different types of investors, such as general trading companies seeking for investment opportunities and financial companies with plans for green products development and investment by preparation for carbon market. It is expected that the global competitiveness of domestic financial companies shall be improved by taking actions on carbon market instead of previous passive response to climate change and that Korea, the number two Carbon Emissions supplier and number one derivatives market in terms of volume, shall be able to lead the worldwide carbon market.

• Environmental and Resource Economics Review
• /
• v.23 no.3
• /
• pp.435-451
• /
• 2014

This paper attempts to evaluate an environmental regulation program which enforces installation of filtering equipment to reduce major air pollutants from used diesel vehicles. A real option model is presented to incorporate fuel cost uncertainty and irreversibility of emission-reducing investment. A finite-life option based on finite difference method is developed to consider the limited life expectancy of used vehicles. After taking into account social benefits from emission reduction and costs from decreasing fuel efficiency after the adoption of filtering technology, the result finds overall positive performance of the Pollution Reduction Program. However, the result suggests that the Program be designed to be more specific to vehicle types to improve program performance.

• Journal of the Korean Solar Energy Society
• /
• v.31 no.6
• /
• pp.95-102
• /
• 2011

The purpose of study is to estimate heating, cooling load performance and economic efficiency in office building with applied the functional paint. this paint can reduced SHGC(Solar Heat Gain Coefficient) on the glazing surface by coating. In this study, estimated to compared with double glazing, low-e glazing, IP(Insulation Paint) and IPu(Insulation UV-Cut Paint) coating glazing. As a result of this study, 1)heating & cooling load Analysis, SHGC value and U-factor of double glazing is about 0.70 and 3.29($W/m^2K$). low-E glazing is about 0.65 and 2.70($W/m^2K$). Two-side it is about 0.27 and 3.25($W/m^2K$). When compared to double glazing, annual heating & cooling load of low-E glazing, Two-side IPu and IP paint coating glazing is 3,012MWh($124kWh/m^2$), 2,910MWh($120kWh/m^2$), 2,867MWh($118.4kWh/m^2$) and 2,867MWh($118.4kWh/m^2$). It i sreduced to 2.0%, 5.2%, 6.7%, and 6.7% respectively. 2)the estimation of economic efficiency, low-e glazing installed in office building can not recover the investment within a lifetime 40years. but IPu and IP paint, two-side coating in glazing, have a payback period of 13 years respectively.