A Study on the Performance and Policy Evaluation of Turbo Expander Generation Interconnected to Distribution Systems
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ORIGINAL ARTICLE
A Study on the Performance and Policy Evaluation of Turbo Expander Generation Interconnected to Distribution Systems Sojin Park1 · Kyungshik Choi1 · Hyunseok You1 · Hansang Lee2 Received: 3 November 2020 / Revised: 18 November 2020 / Accepted: 24 November 2020 © The Korean Institute of Electrical Engineers 2020
Abstract In the face of environmental problems, the energy industry needs to convert energy sources into clean energy, but the technological maturity of renewable energy such as solar and wind power is not high enough, so each country is implementing expansion and dissemination policies based on various systems. The most representative energy policy, renewable energy certificate (REC) transaction system, based on the renewable portfolio standard (RPS), is a policy to supplement the economic feasibility of renewable generations until the technological maturity of them is completed, and is characterized by giving proper weights to each sources. TEG, a power generation source that utilizes waste pressure in the process of decompressing high-pressure gas, is one of the new renewable power candidates in the spotlight in terms of high eco-friendliness and energy recovery. In this paper, the economic and policy factors are evaluated to calculate the REC multipliers for new types of power sources. In particular, it is estimated based on the power generation and electricity sales performance data collected through the operation of the 300 kW TEG operating at the Gimhae decompression facility in Korea. Keywords Turbo expander generation (TEG) · Renewable energy certificate (REC) · Renewable portfolio standard (RPS) · Renewable generation · Levelized cost of energy (LCOE) · REC multiplier
1 Introduction Faced with environmental problems, energy industries around the world are in the process of converting energy sources into clean energy. In Korea, an energy conversion policy of RE3020 is underway, with the goal of replacing 20% of the generated electrical energy with new & renewable generation by 2030 as shown in Fig. 1a. The generation facility capacity of the new and renewable generation required to achieve the RE3020 is expected to be approximately 63.8 GW, which accounts for 33.7% of the total generation capacity in 2030 as shown in Fig. 1b. Additional generation facilities of 48.7 GW are required compared to 15.1 GW in 2017 which is at the time of policy establishment [1, 2]. However, due to the difference between the generation cost and electricity price, private investment in a new and renewable power generation facility of 48.7 GW, which is * Hansang Lee [email protected] 1
KOGAS Research Institute, Ansan, South Korea
Semyung University, Jecheon, South Korea
2
left to market logic, is not possible. As is widely known, renewable energy (RE) such as solar power and wind power are leading this energy conversion, but the technical maturity is not high enough to show economic feasibility compared to existing power generations. In other words, the generation cost of renewable power s
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