• Journal of Electrical Engineering and Technology
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• v.12 no.2
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• pp.981-987
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• 2017

In this paper, we estimate the economic benefits of Energy Storage Systems (ESSs) for peak load shaving in an urban railway substation using the annual cost. The annual investment cost of ESSs is estimated using Net Present Value (NPV) and compared with the cost reduction of electricity by the ESS. The optimal capacities of the battery and Power Converting System (PCS) are determined for peak load shaving. The optimal capacity of the ESS and the peak load shaving is determined to maximize the profit by the ESS. The proposed method was applied to real load data in an urban railway substation, and the results show that electric power costs can be reduced. Other aspects of the ESS, such as the lifetime and unit price of the battery, are also investigated economically.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.27 no.11
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• pp.7-13
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• 2013

There has been a need for the systematic evaluation of the economic efficiency between conventional fluorescent lamp lighting systems that have been used in tunnels and LED lighting systems. This study has evaluated basic tunnel lighting between the conventional fluorescent lighting systems and the LED lighting system using the evaluation tool of tunnel lighting by Life Cycle Cost (LCC) and using the economic efficiency evaluation method. In addition, the unit discount rate of the LED lighting system and the estimated increase in the price of electricity have made the estimated cost of LCC the same if two luminaires were used in the basic part of the tunnel.

• Nuclear Engineering and Technology
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• v.8 no.2
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• pp.101-116
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• 1976

An attempt is made to analyze the unit nuclear power cost of the Go-ri units 1 and 2 in terms of a set of model data. For the calculational purpose, the power cost is first decomposed into the cost components related to the plant capital, operation and maintenance, working capital requirements, and fuel cycle operation. Then, POWERCO-50 computer code is applied to enumerate the first three components and MITCOST-II is used to evaluate the fuel cycle cost component. The specific numerical results are the fuel cycle cost of Go-ri unit 2 for three alternative fuel cycles presumed, levelized unit power cost of units 1 and 2, and the sensitivity of the power cost to the fluctuation of the model data. Upon comparision of the results with the power cost of the fossil power plants in Korea, it is found that the nuclear power is economically preferred to the fossil power. Nevertheless, the turnkey contract value of Go-ri unit 2 appears to be rather expensive compared with the available data on the construction cost of the PWR plants. Therefore, it is suggested that, in order to make the nuclear power plants more attractive in Korea, the unfavorable contract of such kind must be avoided in the future introduction of the nuclear power plant. Capacity factor is of prime importance to achieving the economic generation of the nuclear electricity from the Go-ri plant. Therefore, it is concluded that more efforts should be directed to make the maximum use of the Go-ri plant.

• Proceedings of the Korean Society of Agricultural Engineers Conference
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• 2001.10a
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• pp.281-285
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• 2001

This study was carried out to improve the performance of heat recovery device attached to exhaust gas flue connected to combustion chamber of greenhouse heating system. Three different units were prepared for the comparison of heat recovery performance; AB-type(control unit) is exactly the same with the typical one fabricated for previous study of analyzing heat recovery performance in greenhouse heating system, other two types(C-type and D-type) modified from the control unit are different in the aspects of airflow direction(U-turn airflow) and pipe arrangement. The results are summarized as follows; 1. In the case of Type-AB, when considering the initial cost and current electricity fee required for system operation, it is expected that one or two years at most would be enough to return the whole cost invested. 2. Type-C and Type-D, basically different with Type-AB in the aspect of airflow pattern, are not sensitive to the change of blower capacity with higher than $25\;m^{3}/min$. Therefore, heat recovery performance was not improved so significantly with the increment of blower capacity. This is assumed to be that air flow resistance in high air capacity reduces the heat exchange rate as well. Never the less, compared with control unit, resultant heat recovery rate in Type-C and Type-D were improved by about 5% and 13%, respectively. 3. Desirable blower capacity for these heat recovery units experimented are expected to be about $25\;m^{3}/min$, and at the proper blower capacity, U-turn airflow units showed better heat recovery performance than control unit. But, without regard to the type of heat recovery unit, it is recommended that comprehensive consideration of system's physical factors such as pipe arrangement density, unit pipe length and pipe thickness, etc., are required for the optimization of heat recovery system in the aspects of not only energy conservation but economic system design.

• Journal of the Korean Solar Energy Society
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• v.39 no.6
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• pp.137-151
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• 2019

This study estimated the available renewable market potential based on Levelized Cost Of Electricity and then assessed the renewable derived energy self-sufficiency for the unit of local government in South Korea. To calculate energy self-sufficiency, 1 km gridded market renewable generation and local government scale of final energy consumption data were used based on the market costs and statistics for the recent three years. The results showed that the estimated renewable market potentials were 689 TWh (Install capacity 829 GW, 128 Mtoe), which can cover 120% of power consumption. 55% of municipalities can fully replace the existing energy consumption with renewable energy generation and the surplus generation can compensate for the rest area through electricity trade. However, it was confirmed that, currently, 47% of the local governments do not fully consider all renewable energy sources such as wind, hydro and geothermal in establishing 100% renewable energy. The results of this study suggest that energy planning is decentralized, and this will greatly contribute to the establishment of power planning of local governments and close the information gap between the central government, the local governments, and the public.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.25 no.10
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• pp.28-37
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• 2011

Though Korea has introduced CBP(Cost Based pool) power trading system since 2001, long-term Generation system planning has been executed by government for Cost minimization every 2 years. Until currently the model which is used for Generation system planning and best-mix only considers cost minimization and total yearly or quarterly electricity demand every year. In a view point of one day power supply operation, technical characteristics, like the ramp up/down rate of total generation system, minimum up/down time and GFRQ(Governor Free Response Quantity), are very important. this paper analyzes Optimal Fuel-Mix for 2022 Korea generation system satisfying these constraints of each fuel type and considering pump storage plants, construction cost and $CO_2$ emission charge Using MILP(Mixed Integer Linear Programming) method. Also the sensitivity analysis which follows in future power industry environmental change accomplished.

• 한국신재생에너지학회:학술대회논문집
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• 2010.06a
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• pp.228.2-228.2
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• 2010

In this work, the hydrogen production costs of the nuclear energy sources are estimated in the necessary input data on a Korean specific basis. G4-ECONS was appropriately modified to calculate the cost for hydrogen production of HTE process with Very High Temperature nuclear Reactor (VHTR) as a thermal energy source rather than the LUEC (Levelized Unit Electricity Cost). The general ground rules and assumptions follow G4-ECONS. Through a preliminary study of cost estimates, we wished to evaluate the economic potential for hydrogen produced from nuclear energy, and, in addition, to promptly estimate the hydrogen production costs for an updated input data for capital costs. The estimated costs presented in this paper show that hydrogen production by the VHTR could be competitive with current techniques of hydrogen production from fossil fuels if $CO_2$ capture and sequestration is required. Nuclear production of hydrogen would allow large-scale production of hydrogen at economic prices while avoiding the release of $CO_2$. Nuclear production of hydrogen could thus become the enabling technology for the hydrogen economy. The major factors that would affect the cost of hydrogen were also discussed.

• Nuclear Engineering and Technology
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• v.55 no.4
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• pp.1244-1249
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• 2023

Recently, the Kingdom of Saudi Arabia (KSA) announced the development of first-of-a-kind(FOAK) and most advanced futuristic vertical city and named as 'The LINE'. The project will have zero carbon dioxide emissions and will be powered by clean energy sources. Therefore, a study was designed to understand which clean energy sources might be a better choice. Because of its nearly carbon-free footprint, nuclear energy may be a good choice. Nowadays, the development of very small modular reactors (vSMRs) is gaining attention due to many salient features such as cost efficiency and zero carbon emissions. These reactors are one step down to actual small modular reactors (SMRs) in terms of power and size. SMRs typically have a power range of 20 MWe to 300 MWe, while vSMRs have a power range of 1-20 MWe. Therefore, a study was conducted to discuss different vSMRs in terms of design, technology types, safety features, capabilities, potential, and economics. After conducting the comparative test and analysis, the fuel cycle modeling of optimal and suitable reactor was calculated. Furthermore, the levelized unit cost of electricity for each reactor was compared to determine the most suitable vSMR, which is then compared other generation SMRs to evaluate the cost variations per MWe in terms of size and operation. The main objective of the research was to identify the most cost effective and simple vSMR that can be easily installed and deployed.

• Korean Journal of Hydrosciences
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• v.3
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• pp.81-96
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• 1992

This study represents the methodology for feasibility analysis of small hydro power SHP plant. Cumulative density function of Weibull distribution and Thiessen method were adopted to decide flow duration curve at SHP candidate site. The perfomance prediction model and construction cost estimation model for tunnel-type SHP plant were developed. Eight tunnel -type SHP candidate sites existing on Han-river were selected and surveyed for actual site reconnaissance. The performance characteristics and economical feasibility for these sites were analyzed by using developed models. As a result, it was found that the optimum design flowrate with the lowest unit generation cost for tunel-type SHP candidate site were the flowrate concerming with between 20% and 30% of time ratio on the flow duration curve. Additionally, primary design specifications such as design flowrate, effective head, capacity, annual averageload factor, annual electricity production were estimated and discussed for eight surveyed SHP candidate sites.

• Proceedings of the KSME Conference
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• 2000.04b
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• pp.871-878
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• 2000

Exergetic and thermoeconomic analysis were performed for a 500-MW combined cycle plant and a 137-MW steam power plant without decomposition of exergy stream of matter into thermal and mechanical exergies. The calculated costs of electricity are almost same within 0.5% as those obtained by the thermoeconomic method with decomposition of exergy into thermal and mechanical exergies of the combined cycle plant. However for the gas-turbine cogeneration plant having different kinds of products. the difference in the unit costs of products, obtained from the two methodologies is about 2%. Such outcome indicates that the level at which the cost balances are formulated does not affect the result of thermoeconomic analysis, that is somewhat contradictory to that concluded previously.