• 한국신재생에너지학회:학술대회논문집
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• 2008.05a
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• pp.87-90
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• 2008

Levelized generation cost(LGC) has been widely used in assessing feed-in tariffs(FiT) for electricity generating from new and renewable energies. Current FiTs for renewable electricity in Korea have been fixed and applied with realistic economic data by the efforts of KERI(Korea Electrotechnology Research Institute) since October 2006. Some critical issues on the estimation of LGC are, however, found in KERI's report. Major issues are the estimation of capital cost, the consideration of corporate tax, and the application of economic life cycle in the formulae for LGC. These critical issues are examined and interpreted in a correct way in this paper.

• 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.

• Journal of Energy Engineering
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• v.15 no.1 s.45
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• pp.14-22
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• 2006

Various pros and cons are raised as to the nuclear and renewable power portions. In order to generate scientific, objective, and comparative data, this study reviewed energy policies of some countries and derived 34 possible energy mix scenarios depending on the nuclear portion, the renewable portion and the make-up power sources. For each scenario, the unit electricity cost was calculated using the BLMP (Base Load Marginal Price) and SMP (System Marginal Price) methodology, which is currently adopted in Korean electricity market. The unit electricity cost for the current energy mix was 22.18 Won/kWh and those fir other scenarios spreaded from 19.74 to 164.07 Won/kWh excluding the transmission costs and profits of the electric utility companies. Generally, the increased nuclear power portion leads reduction in the unit electricity cost while the trend is reversed in the renewable power portion. Notable observation is that when the renewable power portion exceeds 20%, as the scenario cannot enjoy the benefit of cheap base load, the unit electricity cost at low demand time zone is increased.

• Korean Journal of Chemical Engineering
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• v.36 no.1
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• pp.12-20
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• 2019

An energy storage system consisting of a battery and a power-to-methanol (PtM) unit was investigated to develop an energy storage system for renewable energy systems. A nonlinear programming model was established to optimize the energy storage system. The optimal installation capacities of the battery and power-to-methanol units were determined to minimize the cost of the energy system. The cost from a renewable energy system was assessed for four configurations, with or without energy storage units, of the battery and the power-to-methanol unit. The proposed model was applied to the modified electricity supply and demand based on published data. The results show that value-adding units, such as PtM, need be included to build a stable renewable energy system. This work will significantly contribute to the advancement of electricity supply and demand management and to the establishment of a nationwide policy for renewable energy storage.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.58 no.4
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• pp.708-717
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• 2009

Recently, Korea government decided to introduce RPS (Renewable Portfolio Standard) mechanism which requires electricity providers to gradually increase the amount of renewable energy sources such as wind, solar, bioenergy, and geothermal. As a consequence, it is expected that the long-term fuel mix would be changed to result in more expensive production and the increased production costs would be distributed to the rate payers via electricity tariffs. This paper presents the change in long-term fuel mix in year 2020 with the four RPS scenarios of 3%, 5%, 10% and 20%, and the methodologies for collecting the increased production costs through new tariff schedule. The studies on long-term fuel mix have been carried out with the GATE-PRO (Generation And Transmission Expansion Program) optimization package, a mixed-integer program developed by the Korea Energy Economics Institute and Hongik university. Three methodologies for distributing the production costs to the rate payers have also been demonstrated.

• Journal of Energy Engineering
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• v.14 no.2 s.42
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• pp.82-97
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• 2005

RPS (Renewable Portfolio Standards) is a policy tool to disseminate renewable energies through market mechanism. RPS promotes renewable power generation by obligating electricity market participants to deliver the required amount of electricity from renewable energies. To promote and encourage renewable energies, Korean government is considering to introduce RPS to domestic market in the near future. The purpose of this paper is to analyze the definition and market mechanism of RPS and to review key considerations in its design. In conclusion, we recommend some prerequisite in its introduction to Korea.

• Environmental and Resource Economics Review
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• v.20 no.4
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• pp.797-826
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• 2011

This study analyzed whether a spatial difference exists in the willingness to pay(WTP) for renewable electricity, by applying the contingent valuation method(CVM). Considering renewable portfolio standards(RPS) as the hypothetical market, we asked WTP in the form of the monthly electricity bills for using renewable electricity; the respondents were people living in Seoul, Ulsan, JeollaNamdo, and Gangwondo. Our empirical results showed that the mean WTP of Gangwondo was the highest, and that of JeollaNamdo, the lowest. The hypothesis that the WTP of the entire sample would not differ from that of the individual regions was rejected. Hence, a spatial difference probably exists in the WTP for electricity from renewable energy. Further, we attributed the spatial differences in WTP to the experience of those staying near the renewable energy facility and the acceptability of the facility.

• Environmental and Resource Economics Review
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• v.31 no.3
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• pp.367-391
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• 2022

We develop an energy-economy Bayesian DSGE model with the two sectors of electricity generations-traditional (fossil, nuclear) and renewable energy. Under imperfect substitutability between the two sectors, a technological shock on renewable energy sectors does not sufficient to facilitate energy conversion and reduce greenhouse gas emissions. Technology innovation on greenhouse gas emission reduction is also required. More importantly, sufficient investment should be derived by a well-functioning electricity market where electricity price plays a signal role in efficient allocation of resources. Indeed, market rigidities cause reduced consumption.

• International Journal of Computer Science & Network Security
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• v.24 no.6
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• pp.33-40
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• 2024

Introducing renewable energy sources, such as wind and photovoltaic arrays, in microgrids that supply remote regions with electricity represents a significant leap in electricity generation. Combining photovoltaic panels and diesel engines is one of the most common ways to supply electricity to rural communities. Such hybrid systems can reduce the cost of electricity generation in these remote power systems because they use free energy to balance the power generated by diesel engines. However, the combination of renewable energy sources and diesel engines tends to complicate the sizing and control of the entire system due to the intermittent nature of renewable energy sources. This study sought to investigate this issue in depth. It proposes a robust hybrid controller that can be used to facilitate optimum power sharing between a PV power source and diesel generators based on the dynamics of the available PV energy at any given time. The study also describes a hybrid PV-diesel power plant's essential functional parts that produce electricity for a microgrid using a renewable energy source. Power control needs to be adjusted to reduce the cost of power generation.

• Proceedings of the SAREK Conference
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• 2008.11a
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• pp.15-20
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• 2008

The objectives of this study are to analyze the energy independence plan and to propose a suitable sewage treatment plant in Korea. The total amount of electricity consumption for public sewage treatment plant was estimated as 1,182 GWh in 2007. It was estimated that total 16 sewage treatment plants with renewable energy systems produced electricity of 15.2 GWh per year, which could replaced 0.8% of total electricity used for sewage treatment. It was found that domestic sewage treatment plants with power generation plants by digestion gas were installed in 7 places and produced electricity of 13 GWh per year. It was also found that the power generation plants by digestion gas were the most cost-effective for sewage treatment out of the renewable energy systems based on the benefit-cost analysis.