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Sustainability 2016, 8(5), 423; doi:10.3390/su8050423

Optimal Energy Mix with Renewable Portfolio Standards in Korea

1
Department of Energy IT, Gachon University, Seongnam 13120, Korea
2
Department of Civil & Environmental Engineering, Chung-Ang University, Seoul 06974, Korea
*
Author to whom correspondence should be addressed.
Academic Editor: Andrew Kusiak
Received: 20 January 2016 / Revised: 6 April 2016 / Accepted: 14 April 2016 / Published: 2 May 2016
(This article belongs to the Section Energy Sustainability)
View Full-Text   |   Download PDF [9345 KB, uploaded 2 May 2016]   |  

Abstract

Korea is a heavily energy-dependent country whose primary energy consumption ranks ninth in the world. However, at the same time, it promised to reduce carbon emission and planned to use more renewable energy. Thus, the objective of this study is to propose an optimal energy mix planning model in electricity generation from various energy sources, such as gas, coal, nuclear, hydro, wind, photovoltaic, and biomass, which considers more renewable and sustainable portions by imposing governmental regulation named renewable portfolio standard (RPS). This optimization model minimizes various costs such as construction cost, operation and management cost, fuel cost, and carbon emission cost while satisfying minimal demand requirement, maximal annual installation potential, and renewable portfolio standard constraints. Results showed that this optimization model could successfully generate energy mix plan from 2012 to 2030 while minimizing the objective costs and satisfying all the constraints. Therefore, this optimization model contributes more efficient and objective method to the complex decision-making process with a sustainability option. This proposed energy mix model is expected to be applied not only to Korea, but also to many other countries in the future for more economical planning of their electricity generation while affecting climate change less. View Full-Text
Keywords: Korea; energy mix; renewable portfolio standard; optimization Korea; energy mix; renewable portfolio standard; optimization
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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Geem, Z.W.; Kim, J.-H. Optimal Energy Mix with Renewable Portfolio Standards in Korea. Sustainability 2016, 8, 423.

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