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Optimal energy mix with renewable portfolio standards in Korea

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  • Optimal energy mix with renewable portfolio standards in Korea
  • Geem, Zong Woo; Kim, Jin-Hong
  • MDPI


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Title Optimal energy mix with renewable portfolio standards in Korea
Similar Titles
Material Type Articles
Author(English)

Geem, Zong Woo; Kim, Jin-Hong

Publisher

[Basel]:MDPI

Date 2016-02
Journal Title; Vol./Issue Sustainability:Vol. 8(No. 5)
Pages 14
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Industry and Technology < Energy
Holding MDPI

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. (The rest omitted)