• The Transactions of the Korean Institute of Electrical Engineers A
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• v.55 no.11
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• pp.498-504
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• 2006

This paper describes the simple payback period analysis of small co-generation system based on the existing apartment and building data. First, We investigate apartment and building data more than $2000[m^2]$ using Ministry of Construction & Transportation's computer system. And then we calculate the latent amount of small co-generation system considering gas company and CHP. Second, we classify the latent amount of small co-generation system into office, hospital, hotel, department store, complex building and apartment. Finally, we perform the simple payback period analysis for small co-generation system. The results show the simple payback period of small co-generation system is less then 10 years.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2014.05a
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• pp.154-155
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• 2014

Small photovoltaic equipment spreads to the detached house owing to the support of government. This study analyzed the payback period of small photovoltaic equipment, and presented a plan of spreading PV equipment by electricity consumption according to the results. The results of payback period analysis showed that a household of 500kWh or above in the average monthly electricity consumption could produce an economic effect without the subsidies of government, and a household of 300kWh or above could secure economical efficiency in case of receiving the subsidies of government and municipality. However, it was shown that the economic effect was not large in case of a household of less than 250kWh. Therefore, the analysis showed that it would be necessary to be supported by additional subsidies or to develop a new supporting policy with regard to a household of less than 250kWh.

• Journal of Magnetics
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• v.16 no.4
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• pp.379-385
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• 2011

This paper presents an optimal design of a direct-drive permanent magnet synchronous generator for a small-scale wind energy conversion system. An analytical model of a small-scale grid-connected wind energy conversion system is presented, and the effects of generator design parameters on the payback period of the system are investigated. An optimization procedure based on genetic algorithm method is then employed to optimize four design parameters of the generator for use in a region with relatively low wind-speed. The aim of optimization is minimizing the payback period of the initial investment on wind energy conversion systems for residential applications. This makes the use of these systems more economical and appealing. Finite element method is employed to evaluate the performance of the optimized generator. The results obtained from finite element analysis are close to those achieved by analytical model.

• Journal of Korean Institute of Industrial Engineers
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• v.39 no.1
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• pp.55-60
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• 2013

VNA(Very Narrow Aisle) forklift trucks require narrower aisle width than traditional counter-balanced trucks do because only the fork assembly turns in the aisle instead of the entire body of the truck. Substituting the VNA trucks for the existing counter-balanced trucks will result in the significant increase of revenue due to the increased storage capacity in the distribution centers. In this study, we present an economic analysis model for the substitution, in which we present a closed-form equation for the number of racks to stay unmoved, while maximizing the additional storage capacity; and resulting payback period of the substitution. A case study shows the payback period of only 8.1 months, indicating that this substitution is very profitable.

• IE interfaces
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• v.17 no.spc
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• pp.62-68
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• 2004

HAPS (High Altitude Platform Station) which is defined as a station located on an object at an altitude of 20 to 50 km and at a specified, nominal, fixed point relative to the earth is a promising technology capable of providing broadband multimedia services. In this study, economical aspects of HAPS service are analyzed by estimating the revenue and costs incurred by the service. To evaluate the profitability of HAPS service, the number of subscribers is estimated and then the net present value (NPV), payback period, and the rate of return on investment (ROI) are calculated under various scenarios.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.25 no.1
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• pp.42-49
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• 2011

PV(Photovoltaic) system is environmentally friendly power system using solar energy in renewable energy. PV system compared to other renewable energy power generation systems is relatively easy to install, so the dissemination is increasing worldwide. Especially, BIPV(Building Integrated Photovoltaic) is a system that PV modules are installed on the building and use renewable energy. But this system is difficult to apply due to the shadow of adjacent buildings and limited installation. In this study, payback period is calculated by Retscreen 2010, that is an economic assessment software of renewable energy, on applied to the bridge of PV system. As results, this study aims at actively considering the application.

• Proceedings of the KIEE Conference
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• 2015.07a
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• pp.611-612
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• 2015

Prediction algorithm of the energy storage system in accordance with the load pattern can cause economic loss in case of a failure prediction. In this paper, we compare the electricity charge between industrial power system with ESS - this case's operation is based on Non-prediction operation method. - and without ESS. In addition, we derive the payback period.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.20 no.9
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• pp.599-607
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• 2008

In this study, air conditioning systems include ground source heat pump (GSHP), are evaluated for economic feasibility. The building is modeled an air conditioned for 280kW scale. This analysis is compared with the energy tariff programs of Korea and USA. The objectives of this paper are to evaluate the cost-effectiveness of the GSHP and combined system using Life-Cycle Cost (LCC) analysis, and to carry out the sensitivity analysis of key parameters. The paper considered the cases including the base case of air source heat pump and the other two alternates for comparisons. The combined system is not only a cost-effective way to the low energy consumption but also a way to avoid a high initial investment. The variations of initial investment and energy rates give a significant effect on the total LCC and payback period.

• International conference on construction engineering and project management
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• 2013.01a
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• pp.602-607
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• 2013

Financial risks associated with capital investments are often measured with different feasibility indicators such as the net present value (NPV), the internal rate of return (IRR), the payback period (PBP), and the benefit-cost ratio (BCR). This paper aims at demonstrating practical applications of probabilistic feasibility analysis techniques for an integrated feasibility evaluation of the IRR and PBP. The IRR and PBP are concurrently analyzed in order to measure the profitability and liquidity, respectively, of a cash flow. The cash flow data of a real wind turbine project is used in the study. The presented approach consists of two phases. First, two newly reported analysis techniques are used to carry out a series of what-if analyses for the IRR and PBP. Second, the relationship between the IRR and PBP is identified using Monte Carlo simulation. The results demonstrate that the integrated feasibility evaluation of stochastic cash flows becomes a more viable option with the aide of newly developed probabilistic analysis techniques. It is also shown that the relationship between the IRR and PBP for the wind turbine project can be used as a predictive model for the actual IRR at the end of the service life based on the actual PBP of the project early in the service life.

• Resources Recycling
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• v.13 no.5
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• pp.51-56
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• 2004

Economic benefits of the dry bottom ash handling system over the wet bottom ash handling system in a new 500MW${\times}$2units pulverized coal thermal power plant in Korea were evaluated. The higher initial capital cost in the dry bottom ash handling system was estimated. However, this higher initial capital costs would be compensated with reductions of the operating cost mainly due to the recycling of bottom ash. Economic analysis showed that the payback period of 4.9 years and the internal rate of return at 21.1% were expected for the additional initial capital cost of the dry bottom ash handling system.