Cost-Benefit Analysis for Industrial Customers-Installed Energy Storage System in South Korea

Journal: International Conference on Innovative Smart Grid Technologies, ISGT Asia 2018

Citation: International Conference on Innovative Smart Grid Technologies, ISGT Asia 2018, pp.470-474

Keyword: Arbitrage Cost-Benefit Analysis Energy Storage System (ESS)ESS Exclusive Rate system Peak Shaving

Mesh Keyword: Arbitrage Energy storage systems ESS Exclusive Rate system Industrial customer Peak shaving Self- consumption South Korea

All Science Classification Codes (ASJC): Artificial Intelligence Computer Networks and Communications Energy Engineering and Power Technology Renewable Energy, Sustainability and the Environment Electrical and Electronic Engineering

Abstract: This paper performs the cost-benefit analysis when the industrial customer installs Energy Storage System (ESS) in South Korea. Firstly, present government's policies and compensation rules for ESS in South Korea are introduced. Then, ESS operation for self-consumption of industrial customers is proposed to maximize the saving of electricity charge with ESS. Actual industry demand profiles are used to verify the effectiveness of the proposed ESS operation and estimate the electricity charge savings. In addition, the cost-benefit analysis is performed to determine if the installation of ESS is beneficial.

URI: https://aurora.ajou.ac.kr/handle/2018.oak/36297
https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=85055552825&origin=inward

Journal URL: http://ieeexplore.ieee.org/xpl/mostRecentIssue.jsp?punumber=8450265

Funding: The This work was supported by the Korea Institute of Energy Technology Evaluation and Planning (KETEP) and the Ministry of Trade, Industry & Energy (MOTIE) of the Republic of Korea (No. 20162010103780)

qrcode