Optimal hybrid renewable energy system in South Korea

Abstract

“Green Growth” and “Sustainability” are now keywords for industrial growth engines. This dissertation examines the economic, environmental, and technological feasibility of hybrid renewable energy systems by simulating a system composed of renewable energy, an existing grid system, and a diesel generator on a variety of circumstances in South Korea, such as islands and international airport. Korea depends heavily on oil imports. Thus, in Korea, efficient energy management is imperative. For this reason, the current Korean administration is striving to improve its energy infrastructure with the construction of stable energy supplies and reliable systems the implementation of energy policies, such as smart grids, and the diffusion of renewable energy generation sources. This dissertation found out the most economically feasible on-grid and off grid hybrid renewable energy system. In addition, this dissertation also compared the hybrid renewable energy system configuration and feasibility of two islands which are very close to each other. Finally this dissertation analyzed the real renewable hybrid energy system and compares between the real case and optimal result based on computer simulation. Given the economic feasibility of this hybrid renewable energy system, implementing it would decrease the price of electricity and increase the stability and reliability of energy system in South Korea.