Economic Feasibility of Renewable Electricity Generation Systems for Local Government Office: Evaluation of the Jeju Special Self-Governing Province in South Korea

Eunil Park, Ki Joon Kim, Sang Jib Kwon, Taeil Han, Wongi S. Na and Angel P. Del Pobil
Additional contact information
Eunil Park: Korea Institute of Civil Engineering and Building Technology (KICT), Goyang, Gyeonggi-do 10223, Korea
Ki Joon Kim: Department of Media and Communication, City University of Hong Kong, Kowloon, Hong Kong, China
Sang Jib Kwon: Department of Business Administration, Dongguk University, Gyeongju, Gyeongsangbuk-do 38066, Korea
Taeil Han: Korea Institute of Civil Engineering and Building Technology (KICT), Goyang, Gyeonggi-do 10223, Korea
Wongi S. Na: Korea Institute of Civil Engineering and Building Technology (KICT), Goyang, Gyeonggi-do 10223, Korea
Angel P. Del Pobil: University Jaume-I, Avenida de Vicent Sos Baynat, s/n, 12071 Castelló de la Plana, Spain

Sustainability, 2017, vol. 9, issue 1, 1-13

Abstract: While environmental and energy concerns have become global issues, the government of South Korea has made notable efforts and formulated plans for the diffusion of renewable energy generation facilities for the nation’s public and governmental institutions. Accordingly, Jeju Island has become one of the most promising locations for utilizing renewable energy resources. This study aims to propose potential configurations for renewable energy generation facilities (mainly solar and wind energy facilities) in response to the electricity demand of the main local governmental offices of Jeju Special Self-Governing Province. The study utilizes the hybrid optimization of multiple energy resources software to simulate two optimized configurations for generation at a cost of energy of $0.306 per kWh (independent) and $0.204 per kWh (grid-connected) with 100% renewable fraction for the island. The implications of the simulation results and limitations of the study are discussed.

Keywords: energy cost; Jeju Island; renewable energy (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
https://www.mdpi.com/2071-1050/9/1/82/pdf (application/pdf)
https://www.mdpi.com/2071-1050/9/1/82/ (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:9:y:2017:i:1:p:82-:d:87253

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 ().