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

Byuk-Keun Jo and Gilsoo Jang
Additional contact information
Byuk-Keun Jo: School of Electrical Engineering, Korea University, Anam Campus, 145 Anam-ro, Seongbuk-gu, Seoul 02841, Korea
Gilsoo Jang: School of Electrical Engineering, Korea University, Anam Campus, 145 Anam-ro, Seongbuk-gu, Seoul 02841, Korea

Sustainability, 2019, vol. 11, issue 16, 1-17

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%.

Keywords: energy storage system; photovoltaic generation integration; renewable energy certificate; economic feasibility analysis; policy effectiveness evaluation (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
https://www.mdpi.com/2071-1050/11/16/4337/pdf (application/pdf)
https://www.mdpi.com/2071-1050/11/16/4337/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:11:y:2019:i:16:p:4337-:d:256692

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().