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An Evaluation of the Effect on the Expansion of Photovoltaic Power Generation According to Renewable Energy Certificates on Energy Storage Systems: A Case Study of the Korean Renewable Energy Market

by 1,2 and 1,*
1
School of Electrical Engineering, Korea University, Anam Campus, 145 Anam-ro, Seongbuk-gu, Seoul 02841, Korea
2
Regional Strategy Division, Korea Energy Agency, 323 Jongga-ro, Jung-gu, Ulsan 44538, Korea
*
Author to whom correspondence should be addressed.
Sustainability 2019, 11(16), 4337; https://doi.org/10.3390/su11164337
Received: 13 July 2019 / Revised: 6 August 2019 / Accepted: 7 August 2019 / Published: 11 August 2019
(This article belongs to the Section Energy Sustainability)
As part of efforts to cope with climate change, countries around the world have decided to supply photovoltaic (PV) power. However, since the integration of PV affects the reliability and stability of a power system, increasing the penetration of PV generation requires better system flexibility. For this reason, many countries have recently established policies to disseminate energy storage systems (ESS). In this paper, we aim to evaluate the effectiveness of policies regarding ESS as a way to increase PV integration. We analyzed whether the policies were effective in spreading ESS to eventually increase PV integration. To do this, we first described the Korean government’s policy of establishing a profit structure for ESS through the Renewable Energy Certificate (REC) market and analyzed its effects on economic feasibility. We also analyzed how much the investment in ESS for PV integration has risen and assessed the contribution of spreading ESS to disseminate PV power. We found that ESS for the integration of PV have grown to a 41.0% share of Korea’s ESS market in kW, and 32.8% in kWh, while expanding the PV market by 13.7%. View Full-Text
Keywords: energy storage system; photovoltaic generation integration; renewable energy certificate; economic feasibility analysis; policy effectiveness evaluation energy storage system; photovoltaic generation integration; renewable energy certificate; economic feasibility analysis; policy effectiveness evaluation
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Jo, B.-K.; Jang, G. An Evaluation of the Effect on the Expansion of Photovoltaic Power Generation According to Renewable Energy Certificates on Energy Storage Systems: A Case Study of the Korean Renewable Energy Market. Sustainability 2019, 11, 4337.

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