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Conference Paper
Economic Analysis for Energy Trading System connected with Energy Storage System and Renewable Energy Sources
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- Authors
- Jeong in Lee, Il woo Lee, Sang-Ha Kim
- Issue Date
- 2016-06
- Citation
- IEEE Transportation Electrification Conference and Expo (ITEC) 2016 : Asia-Pacific, pp.693-696
- Publisher
- IEEE
- Language
- English
- Type
- Conference Paper
- Abstract
- South Korea has announced various policies to vitalize the development and uptake of renewable energy. The government designed to promote the cumulative capacity of ESS of 2GW in 2020. We need to consideration for economic feasibility of Energy Storage System (ESS) and Distributed Energy Sources (DER) participated in energy trading market by authorized energy broker by owning DER customers. We proceed with the economic analysis when the consumer with a small DERs to participate in the brokerage market during the 2015~2029. The results of simulation indicate the sum of SMP and REC profit is about 600 million dollars in 2029. Consequently, the government need to consider for commission on energy broker business in near the future.
- KSP Keywords
- Distributed Energy Sources, Economic analysis, Economic feasibility, Energy Storage Systems(ESS), Energy storage(ES), Energy trading, Renewable Energy sources, South Korea, Trading System, trading market