JOURNAL BROWSE
Search
Advanced SearchSearch Tips
The Optimal Design and Economic Evaluation of a Stand-Alone RES Energy System for Residential, Agricultural and Commercial Sectors
facebook(new window)  Pirnt(new window) E-mail(new window) Excel Download
  • Journal title : Korean Chemical Engineering Research
  • Volume 54, Issue 4,  2016, pp.470-478
  • Publisher : The Korean Institute of Chemical Engineers
  • DOI : 10.9713/kcer.2016.54.4.470
 Title & Authors
The Optimal Design and Economic Evaluation of a Stand-Alone RES Energy System for Residential, Agricultural and Commercial Sectors
Kim, Kihyeon; Kim, Jiyong;
  PDF(new window)
 Abstract
Greenhouse gas (GHG) emissions caused by fossil fuels consumption is one of the challenging issues worldwide. Renewable energy source (RES)-based energy supply system can be a promising alternative to the current fossil fuel-based system. In this study, we propose an optimization approach for designing a stand-alone hybrid energy supply system using RES and evaluating economic performances of the energy systems. The suggested approach is used to answer the questions; i) what technology is suitable to various demand sectors in different regions, and ii) how does it cost to meet the demand in term of the levelized costs of energy (LCOE). We illustrate the applicability of the proposed approach by applying to the design problem of energy supply systems for residential, agricultural and commercial sectors of Korea. As the results of LCOE analysis, for the residential sector has the LCOE ranging of $0.37~$0.44/kWh, the agricultural sector of $0.15~$0.61/kWh and the commercial sector of $0.12~$0.28/kWh.
 Keywords
Optimization;Techno-economic Evaluation;Stand-alone System;Renewable Energy;Korea;
 Language
Korean
 Cited by
1.
The intelligent solar power monitoring system based on Smart Phone, Journal of the Korea Institute of Information and Communication Engineering, 2016, 20, 10, 1949  crossref(new windwow)
 References
1.
IPCC, 2014: Climate Change 2014: Synthesis Report. Contribution of Working Groups I, II and III to the Fifth Assessment Report of the Intergovernmental Panel on Climate Change [Core Writing Team, Pachauri, R. K. and Meyer, L. A. (eds.)]. IPCC, Geneva, Switzerland, 151 pp.

2.
Nakata, T., Kubo, K. and Lamont, A., "Design for Renewable Energy System with Application to Rural Areas in Japan," Energy Policy, 33, 209-219(2005). crossref(new window)

3.
Kim, H., Baek, S., Park, E. and Chang, H. J., "Optimal Green Energy Management in Jeju, South Korea - On-grid and Off-grid Electrification," Renewable Energy, 69, 123-133(2014). crossref(new window)

4.
Korea Energy Economics Institute, "Monthly Energy Trends," Energy Economic Indicator Analysis Report: No. 40(2015).

5.
Yoon, J. and Sim, K., "Why is South Korea's Renewable Energy Policy Failing? A Qualitative Evaluation," Energy Policy, 86, 369-379(2015). crossref(new window)

6.
Moriarty, P. and Honnery, D., "What is the Global Potential for Renewable Energy?," Renewable and Sustainable Energy Reviews, 16, 244-252(2012). crossref(new window)

7.
Yoo, K., Park, E., Kim, H., Ohm, J. Y., Yang, T., Kim, K. J., Chang, H. J. and del Pobil, A. P., "Optimized Renewable and Sustainable Electricity Generation System for Ullengdo Island in South Korea," Sustainability, 6, 7883-7893(2014). crossref(new window)

8.
Ku, S. and Yoo, S., "Willing Ness to Pay for Renewable Energy Investment in Korea: A Choice Experiment Study," Renewable and Sustainable Energy Reviews, 14, 2196-2201(2010). crossref(new window)

9.
Kim, M. and Kim, J., "Optimal Design and Economic Evaluation of Energy Supply System from On/Off Shore Wind Farms," Korean Chem. Eng. Res, 53(2), 156-163(2015). crossref(new window)

10.
Lim, J. H., "Optimal Combination and Sizing of a New and Renewable Hybrid Generation System," International Journal of Future Generation Communication and networking, 5(2), 43-60(2012).

11.
Ni, M., Leung, M. K. H., Sumathy, K. and Leung, D. Y. C., "Potential of Renewable Hydrogen Production for Energy Supply in Hong Kong," International Journal of Hydrogen Energy, 31, 1401-1412(2006). crossref(new window)

12.
Rehman, S., Alam, M. M., Meyer, J. P. and Al-Hadhrami, L. M., "Feasibility Study of a Wind-pv-diesel Hybrid Power System for a Village," Renewable Energy, 38, 258-268(2012). crossref(new window)

13.
Fadaeenejad, M., Radzi, M. A. M., AbKadir, M. Z. A. and Hizam, H., "Assessment of Hybrid Power Sources for Rural Electrification in Malaysia," Renewable and Sustainable Energy, 30, 299-305(2014). crossref(new window)

14.
Dufo-Lopez, R., Bernal-Agustin, J. L., Yusta-Loyo, J. M., Dominguez-Navarro, J. A., Ramirez-Rosado, I. J., Lujano, J. and Aso, I., "Multiobject Optimization Minimizing Cost and Life Cycle Emissions of Stand-alone PV-wind-diesel Systems with Batteries Storage," Applied Energy, 88, 4033-4041(2011). crossref(new window)

15.
Dufo-Lopez, R., Bernal-Agustin, J. L., HOGA (Hybrid Optimization by Genetic Algorithms) software.

16.
Korea Electric Power Corporation.

17.
Korean Statistical Information Service.

18.
NASA Atmospheric Science Data Center

19.
Korea Electric Power Corporation, "Statistics of Electric Power in Korea," KEPCO Report: No. 84(2014).