Economic and Environmental Benefits of Optimized Hybrid Renewable Energy Generation Systems at Jeju National University, South Korea
Abstract
:1. Introduction
Acts for Renewable Energy Facilities in South Korea
2. Status of Jeju National University
2.1. University Location and Population
2.2. University Load Information
2.3. University Solar Energy Information
2.4. University Wind Energy Information
3. Key Parameters for the Economic and Environmental Analysis
3.1. South Korea’s Annual Real Interest Rate
3.2. Three Evaluation Guidelines
3.3. Environmental Parameters
4. Renewable Electricity Generation Systems
5. Results
6. Discussion
- Stages for gradually installing the suggested components in the system should be planned.
- The supporting plans and policies operated by South Korean and local governments should be considered and applied.
- The dependence on renewable electricity generation components will be gradually increased when the dependence of the grid system is reduced.
7. Limitations
Acknowledgments
Author Contributions
Conflicts of Interest
References
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Category | Description | Sources |
---|---|---|
Political |
| [12,13,14] |
Economic |
| [15,16] |
Socio-cultural |
| [17,18,19] |
Technological |
| [20,21] |
Act | Description | |
---|---|---|
Energy Use Rationalization Act | Energy Use Rationalization Act | Article 8 (Measures for Efficient Use of Energy by State and Local Governments) (1) Persons falling under any of the following subparagraphs shall promote measures necessary for efficiently using energy in accordance with the purposes of this Act and reducing GHG emissions: 1. State; 2. Local governments; 3. Public institutions under Article 4 (1) Of the Act on the Management of Public Institutions. (2) Details of measures necessary for efficiently using energy and reducing GHG emissions, which shall be promoted by the State and local governments under paragraph (1), shall be prescribed by Presidential Decree. |
Decree of Energy Use Rationalization Act | Article 15 (Contents of act on efficiency of energy use) In accordance with the Act (Article 8 (1)), the specific contents of necessary acts is as following subparagraphs for efficient use and reduction of GHG emissions by the national and local governments. 1. The provision and maintenance of the system and measures to save energy and reduce GHG emissions 2. Public relation and education related with energy saving and reduction of GHG emissions 3. The rationalization of energy use and reduction of GHG emissions in buildings and transport sectors | |
Regulation on promotion of energy use rationalization by public bodies, | Article 6 (promotion of energy use efficiency in new buildings) In accordance with the Article 14 of Green Building Composition Support Act and the Article 10 of the Decree of the same Act, among buildings to submit an energy saving plan, if it has total floor area of more than 3000 m2 and a building which is designed as the standard of Building Energy Efficiency Rating Certification (usually announced by the Ministry of Trade, Industry and Energy and the Ministry of Land, Infrastructure and Transport) is built newly or if it is expanded as a separate building which has total floor area of more than 3000 m2, it must obtain grade 1 or higher according to the standard of building energy efficiency rating certification. However, newly built buildings of market or quasi-market type of public enterprises must obtain grade 1++ or higher of Building Energy Efficiency from 2017. | |
Act on the Promotion of the Development, Use and Diffusion of New and Renewable Energy | Act on the Promotion of the Development, Use and Diffusion of New and Renewable Energy | Article 12 (Investment Recommendation and Mandatory Use, etc. of New and Renewable Energy) (1) Where the Minister of Trade, Industry and Energy deems it necessary to promote the technological development, use, and distribution of new and renewable energy, he/she may recommend that a person carrying on energy-related business conduct invest in, or contribute to any of the projects referred to in the subparagraph of Article 10. <Amended by Act No. 11690, 23 March 2013> (2) Where the Minister of Trade, Industry and Energy deems it necessary to facilitate the use or distribution of new and renewable energy, and to vitalize the new and renewable energy industry, he/she may require any of the following entities to mandatorily install new and renewable energy facilities in a building newly built, extended, or remodeled by such entities in order to use energy supplied utilizing new or renewable energy over a certain percentage of the estimated amount of energy used computed as at the time of its design, as prescribed by Presidential Decree: <Amended by Act No. 11690, 23 March 2013; Act No. 13087, 28 January 2015> 1. The State and a local government; 2. A public institution; 3. A government-contributed institution to which the Government has contributed at least an amount prescribed by Presidential Decree; 4. A government-invested corporation defined in subparagraph 6 of Article 2 of the State Property Act; 5. A corporation to which a local government, public institution, government-contributed institution, or government-invested corporation referred to in subparagraphs 2 through 4 has invested at a ratio or at least an amount prescribed by Presidential Decree; 6. A corporation incorporated under any special Act. (3) The Minister of Trade, Industry and Energy may recommend that any factory, place of business, collective housing complex, etc., deemed appropriate use new and renewable energy as designated by him/her to use such energy or install facilities for using such energy. <Amended by Act No. 11690, 23 March 2013> [This Article Wholly Amended by Act No. 10253, 12 April 2010] |
Components | Index | |
---|---|---|
Annual real interest rate | 1.5% | 3.0% |
PV panel (kW) | 4855 | 4855 |
Wind turbine (#) | 888 | 884 |
Battery unit (#) | 10,920 | 10,945 |
Converter (kW) | 1885 | 1875 |
Grid connection (kW) | 0 | 0 |
Operating cost (annually; $ per year) | 854,247 | 856,344 |
Initial capital cost ($) | 36,920,680 | 36,883,404 |
Total NPC ($) | 54,620,352 | 51,795,040 |
COE ($ per kWh) | 0.356 | 0.402 |
Renewable fraction | 1.00 | 1.00 |
Annual Real Interest Rate | Component | Capital ($) | Replacement ($) | Operation & Management ($) | Salvage ($) | Total ($) |
---|---|---|---|---|---|---|
3.00% | PV | 8,739,000 | 6,488,451 | 2,514,843 | −4,517,229 | 13,225,068 |
Wind turbine | 12,876,000 | - | 3,679,804 | - | 16,555,804 | |
Grid | - | - | −6,328,446 | - | −6,328,446 | |
Battery | 13,420,680 | 20,613,248 | 2,262,582 | −8,478,813 | 27,817,700 | |
Converter | 1,885,000 | 1,507,720 | 390,565 | −433,051 | 3,350,234 | |
System | 36,920,680 | 28,609,418 | 2,519,349 | −13,429,093 | 54,620,356 | |
1.50% | PV | 8,739,000 | 4,838,575 | 2,113,522 | −3,130,349 | 12,560,749 |
Wind turbine | 12,818,000 | - | 3,078,646 | - | 15,896,647 | |
Grid | - | - | −5,288,761 | - | −5,288,761 | |
Battery | 13,451,405 | 16,051,752 | 1,905,870 | −5,889,098 | 25,519,932 | |
Converter | 1,875,000 | 1,203,492 | 326,497 | −298,504 | 3,106,485 | |
System | 36,883,404 | 22,093,820 | 2,135,773 | −9,317,950 | 51,795,040 |
Annual Real Interest Rate | Component | Capital ($) | Replacement ($) | O & M ($) | Salvage ($) | Total ($) |
---|---|---|---|---|---|---|
3.00% | PV | 421,774 | 313,155 | 121,375 | −218,017 | 638,287 |
Wind turbine | 621,440 | - | 177,600 | - | 799,040 | |
Grid | - | - | −305,433 | - | −305,433 | |
Battery | 647,728 | 994,867 | 109,200 | −409,217 | 1,342,578 | |
Converter | 90,977 | 72,768 | 18,850 | −20,901 | 161,694 | |
System | 1,781,920 | 1,380,789 | 121,592 | −648,134 | 2,636,167 | |
1.50% | PV | 501,862 | 277,869 | 121,375 | −179,769 | 721,337 |
Wind turbine | 736,110 | - | 176,800 | - | 912,911 | |
Grid | - | - | −303,722 | - | −303,722 | |
Battery | 772,486 | 921,818 | 109,450 | −338,198 | 1,465,555 | |
Converter | 107,677 | 69,114 | 18,750 | −17,142 | 178,399 | |
System | 2,118,136 | 1,268,801 | 122,653 | −535,110 | 2,974,479 |
3.0% of Real Interest Rate | Production (kWh/Year) | Fraction | 1.5% of Real Interest Rate | Production (kWh/Year) | Fraction |
PV array | 6,227,571 | 31% | PV array | 6,227,571 | 31% |
Wind turbines | 13,554,660 | 69% | Wind turbines | 13,615,956 | 69% |
Grid purchases | 0 | 0% | Grid purchases | 0 | 0% |
Total | 19,782,230 | 100% | Total | 19,843,526 | 100% |
Load | Consumption (kWh/Year) | Fraction | Load | Consumption (kWh/Year) | Fraction |
AC primary load | 7,403,611 | 73% | AC primary load | 7,403,606 | 73% |
Grid sales | 2,761,111 | 27% | Grid sales | 2,776,660 | 27% |
Total | 10,164,722 | 100% | Total | 10,180,266 | 100% |
Quantity | Value (kWh/Year) | Quantity | Value (kWh/Year) | ||
Excess electricity | 7,794,651 | Excess electricity | 7,839,553 | ||
Unmet load | 5840 | Unmet load | 5845 | ||
Capacity shortage | 7395 | Capacity shortage | 7400 | ||
Renewable fraction | 1.00 | Renewable fraction | 1.00 |
3.0% of Real Interest Rate | Energy Sold (kWh) | Energy Charge ($) | 1.5% of Real Interest Rate | Energy Sold (kWh) | Energy Charge ($) |
---|---|---|---|---|---|
January | 315,753 | −34,733 | January | 316,334 | −34,797 |
February | 320,229 | −35,225 | February | 320,814 | −35,290 |
March | 295,690 | −32,526 | March | 297,781 | −32,756 |
April | 222,805 | −24,509 | April | 224,242 | −24,667 |
May | 160,620 | −17,668 | May | 162,134 | −17,835 |
June | 100,808 | −11,089 | June | 102,353 | −11,259 |
July | 187,910 | −20,670 | July | 188,652 | −20,752 |
August | 211,874 | −23,306 | August | 212,542 | −23,380 |
September | 153,819 | −16,920 | September | 154,920 | −17,041 |
October | 232,600 | −25,586 | October | 233,785 | −25,716 |
November | 195,519 | −21,507 | November | 197,609 | −21,737 |
December | 363,484 | −39,983 | December | 365,494 | −40,204 |
Annual | 2,761,111 | −303,722 | Annual | 2,776,660 | −305,433 |
3.0% of Real Interest Rate | 1.5% of Real Interest Rate | ||
---|---|---|---|
Pollutants | Emissions (kg per Year) | Pollutants | Emissions (kg per Year) |
Carbon dioxide | 1,745,022 | Carbon dioxide | 1,754,849 |
Sulfur dioxide | 7565 | Sulfur dioxide | 7608 |
Nitrogen oxides | 3700 | Nitrogen oxides | 3721 |
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Park, E.; Han, T.; Kim, T.; Kwon, S.J.; Del Pobil, A.P. Economic and Environmental Benefits of Optimized Hybrid Renewable Energy Generation Systems at Jeju National University, South Korea. Sustainability 2016, 8, 877. https://doi.org/10.3390/su8090877
Park E, Han T, Kim T, Kwon SJ, Del Pobil AP. Economic and Environmental Benefits of Optimized Hybrid Renewable Energy Generation Systems at Jeju National University, South Korea. Sustainability. 2016; 8(9):877. https://doi.org/10.3390/su8090877
Chicago/Turabian StylePark, Eunil, Taeil Han, Taehyeong Kim, Sang Jib Kwon, and Angel P. Del Pobil. 2016. "Economic and Environmental Benefits of Optimized Hybrid Renewable Energy Generation Systems at Jeju National University, South Korea" Sustainability 8, no. 9: 877. https://doi.org/10.3390/su8090877
APA StylePark, E., Han, T., Kim, T., Kwon, S. J., & Del Pobil, A. P. (2016). Economic and Environmental Benefits of Optimized Hybrid Renewable Energy Generation Systems at Jeju National University, South Korea. Sustainability, 8(9), 877. https://doi.org/10.3390/su8090877