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An Evaluation of the Effect on the Expansion of Photovoltaic Power Generation According to Renewable Energy Certificates on Energy Storage Systems: A Case Study of the Korean Renewable Energy Market

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  • Byuk-Keun Jo

    (School of Electrical Engineering, Korea University, Anam Campus, 145 Anam-ro, Seongbuk-gu, Seoul 02841, Korea
    Regional Strategy Division, Korea Energy Agency, 323 Jongga-ro, Jung-gu, Ulsan 44538, Korea)

  • Gilsoo Jang

    (School of Electrical Engineering, Korea University, Anam Campus, 145 Anam-ro, Seongbuk-gu, Seoul 02841, Korea)

Abstract

As part of efforts to cope with climate change, countries around the world have decided to supply photovoltaic (PV) power. However, since the integration of PV affects the reliability and stability of a power system, increasing the penetration of PV generation requires better system flexibility. For this reason, many countries have recently established policies to disseminate energy storage systems (ESS). In this paper, we aim to evaluate the effectiveness of policies regarding ESS as a way to increase PV integration. We analyzed whether the policies were effective in spreading ESS to eventually increase PV integration. To do this, we first described the Korean government’s policy of establishing a profit structure for ESS through the Renewable Energy Certificate (REC) market and analyzed its effects on economic feasibility. We also analyzed how much the investment in ESS for PV integration has risen and assessed the contribution of spreading ESS to disseminate PV power. We found that ESS for the integration of PV have grown to a 41.0% share of Korea’s ESS market in kW, and 32.8% in kWh, while expanding the PV market by 13.7%.

Suggested Citation

  • Byuk-Keun Jo & Gilsoo Jang, 2019. "An Evaluation of the Effect on the Expansion of Photovoltaic Power Generation According to Renewable Energy Certificates on Energy Storage Systems: A Case Study of the Korean Renewable Energy Market," Sustainability, MDPI, vol. 11(16), pages 1-17, August.
    • Handle: RePEc:gam:jsusta:v:11:y:2019:i:16:p:4337-:d:256692
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    References listed on IDEAS

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    2. Rômulo de Oliveira Azevêdo & Paulo Rotela Junior & Luiz Célio Souza Rocha & Gianfranco Chicco & Giancarlo Aquila & Rogério Santana Peruchi, 2020. "Identification and Analysis of Impact Factors on the Economic Feasibility of Photovoltaic Energy Investments," Sustainability, MDPI, vol. 12(17), pages 1-40, September.
    3. Jun-Mo Kim & Jeong Lee & Jin-Wook Kim & Junsin Yi & Chung-Yuen Won, 2021. "Power Conversion System Operation to Reduce the Electricity Purchasing Cost of Energy Storage Systems," Energies, MDPI, vol. 14(16), pages 1-20, August.
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    5. Rokas Tamašauskas & Jolanta Šadauskienė & Dorota Anna Krawczyk & Violeta Medelienė, 2020. "Analysis of Primary Energy Factors from Photovoltaic Systems for a Nearly Zero Energy Building (NZEB): A Case Study in Lithuania," Energies, MDPI, vol. 13(16), pages 1-15, August.

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