Issue
Korean Journal of Chemical Engineering,
Vol.38, No.12, 2397-2405, 2021
Cost and robustness analysis of the Korean government’s renewable energy plan under varying scenarios
In the ongoing global warming era, increasing the share of renewable energy systems (RES) in the energy portfolio has been a goal for many governments around the world. South Korea is not an exception and has employed numerous policy measures to promote adoption of RES. The latest renewable energy plan is one of those measures in which the target shares of RES are set for the coming decade. This study proposes a revised, more comprehensive mathematical model for assessing the total costs associated with installment, operation, and disintegration of RES. The proposed model is applied to examine the Korean government…s latest plan in terms of the four major RES: solar PV, wind power, biomass energy, and fuel cell power. Sensitivity analysis was conducted to evaluate robustness of the plan with respect to changes in the price of fuels and CO2 emission. The results illustrate the contribution of various types of costs for implementing the plan and provide insight on numerous issues, including key areas of research for minimizing the costs.
[References]
  1. Son D, Kim J, Jeong B, Energies, 12, 1667, 2019
  2. Ha Y, Byrne J, Lee HS, Lee YJ, Kim DH, WIREs Energy Environ., 9, 1, 2020
  3. Lee C, Huh S, Renew. Sust. Energ. Rev., 69, 207, 2017
  4. Huh S, Lee C, Energy Policy, 69, 248, 2014
  5. Turconi R, O'Dwyer C, Flynn D, Astrup T, Appl. Energy, 131, 1, 2014
  6. Allouhi A, Saadani R, Buker MS, Kousksou T, Jamil A, Rahmoune M, Sol. Energy, 178, 25, 2019
  7. Breyer C, Gerlach A, Mueller J, Behacker H, Milner A, 2009 34th IEEE Photovoltaic Specialists Conference (PVSC) (2009).
  8. Moo J, Park K, Shin D, Yoon ES, Appl. Energy, 88(6), 2254, 2011
  9. Green MA, Kopidakis N, Dunlop ED, Baillie AWYH, Prog. Photovoltaics, 2, 3, 2020
  10. Green MA, Prog. Photovoltaics, 17, 183, 2009
  11. Liang YY, Yu BY, Wang L, Renew. Energy, 131, 700, 2019
  12. Arnette AN, Renew. Sust. Energ. Rev., 70, 254, 2017
  13. Yue CD, Chen CS, Lee YC, Renew. Energy, 86, 930, 2016
  14. Deason W, Renew. Sust. Energ. Rev., 82, 3168, 2018
  15. Notton G, Nivet M, Voyant C, Paoli C, Darras C, Motte F, Fouilloy A, Renew. Sust. Energ. Rev., 87, 96, 2018
  16. Batalla-bejerano J, Trujillo-baute E, Energy Policy, 94, 411, 2016
  17. Golecha F, Gan J, Renew. Sust. Energ. Rev., 57, 34, 2016
  18. Williams CL, Westover TL, Emerson RM, Tumuluru JS, Li C, Bioenergy Res., 9, 1, 2016
  19. Koo J, Han K, Yoon ES, Renew. Sust. Energ. Rev., 15, 665, 2011
  20. Kim B, Kang J, Park S, Jang J, Hong JH, New Renew. Energy, 15, 36, 2019
  21. Ouyang X, Lin B, Energy Policy, 70, 64, 2014
  22. Kaiser MJ, Snyder B, Mar. Policy, 36, 153, 2012
  23. Kim H, Kang Y, Kim CK, J. Wind Power, 8, 21, 2017
  24. Kang HK, Park KC, Kim LH, Korean Soc. Energy, 23, 7, 2014
  25. Kim J, Lee TJ, 2019 Annual Meeting of Korea Society of Energy & Climate Change, 33 (Korea Society of Energy&Climate Change, 2019).
  26. Sinha P, de Wild-Scholten M, Wade A, Breyer C, 28th European Photovoltaic Solar Energy Conference and Exhibition, 4583 (2013).
  27. Hourly power generation by the solar PV unit 1. South Korean Government Public Data (2020).
  28. Hourly power generation by the wind power unit 1. South Korean Government Public Data (2020).
  29. Parrado C, Girard A, Simon F, Fuentealba E, Energy, 94, 422, 2016
  30. Meng L, You J, Yang Y, Nat. Commun., 9, 5265, 2018
  31. Williams E, Hittinger E, Carvalho R, Williams R, Energy Policy, 106, 427, 2017
  32. Lee GD, et al., A study on the calculation of LCOEs for various energy technologies, (2018).
  33. Ziegler L, Gonzalez E, Rubert T, Smolka U, Melero JJ, Renew. Sust. Energ. Rev., 82, 1261, 2018
  34. International Energy Agency, International Energy Outlook 2019 (2019).
  35. Wei M, Smith SJ, Sohn MD, Appl. Energy, 191, 346, 2017
  36. Kim JH, An Empirical Analysis of Fuel Cell Generation Operation, Soongsil University (2019).
  37. Park JR, Statistics on the wood pellet, Korean Forest Service, Daejeon (2018).
  38. Import prices of natural gas. Korea Energy Statistical Information System (2020).
  39. Schjolset S, The MSR: Impact on market balance and prices, Thomson Reuters, Toronto (2014).
  40. Braun M, Environmental External Costs from Power Generation by Renewable Energies, Universitat Stuttgart (2004).
  41. Nian V, Sun Q, Li H, Energy Procedia, 104, 556, 2016
  42. Staffell I, Ingram A, Kendall K, Int. J. Hydrog. Energy, 37, 2509, 2011
  43. Thran D, Schaubach K, Peetz D, Junginger M, Mai-Maulin T, Schipfer F, Olsson O, Lamers P, Biofuels, Bioprod. Biorefining, 13, 267, 2019
  44. Huang Y, Dai X, Wang Q, Zhou D, Appl. Energy, 285, 116485, 2021
  45. Johansson V, Thorson L, Goop J, Goransson L, Odenberger M, Reichenberg L, Taljegard M, Johnsson F, Energy, 126, 352, 2017
  46. Pandey AK, Hossain MS, Tyagi VV, Rahim NA, Selvaraj JAL, Ahmet S, Renew. Sust. Energ. Rev., 82, 281, 2018
  47. Boukherroub T, Lebel L, Lemieux S, Appl. Energy, 198, 385, 2017
  48. Kumar L, Koukoulas AA, Mani S, Satyavolu J, Energy Fuels, 31(1), 37, 2017
  49. Duclos L, Lupsea M, Mandil G, Svecova L, Thivel PX, Laforest V, J. Clean Prod., 142, 2618, 2017