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Cost-Benefit Analysis for Industrial Customers-Installed Energy Storage System in South Korea
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Publication Year
2018-09-18
Journal
International Conference on Innovative Smart Grid Technologies, ISGT Asia 2018
Publisher
Institute of Electrical and Electronics Engineers Inc.
Citation
International Conference on Innovative Smart Grid Technologies, ISGT Asia 2018, pp.470-474
Keyword
ArbitrageCost-Benefit AnalysisEnergy Storage System (ESS)ESS Exclusive Rate systemPeak Shaving
Mesh Keyword
ArbitrageEnergy storage systemsESS Exclusive Rate systemIndustrial customerPeak shavingSelf- consumptionSouth Korea
All Science Classification Codes (ASJC)
Artificial IntelligenceComputer Networks and CommunicationsEnergy Engineering and Power TechnologyRenewable Energy, Sustainability and the EnvironmentElectrical 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.
Language
eng
URI
https://aurora.ajou.ac.kr/handle/2018.oak/36297
https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=85055552825&origin=inward
DOI
https://doi.org/10.1109/isgt-asia.2018.8467716
Journal URL
http://ieeexplore.ieee.org/xpl/mostRecentIssue.jsp?punumber=8450265
Type
Conference
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)
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Jung, Jaesung  Image
Jung, Jaesung 정재성
Department of Electrical and Computer Engineering
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