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Analysis of Economical efficiency for renewable energy in Steam Power Plant

Choi, Kyoung-sik 1

1신라대학교

Accredited

ABSTRACT

Since the Renewable Portfolio Standard (RPS) would be started in 2012, the use of renewableenergy should be 11% of total energy use including bio-fuel in 2030. The economic efficiency forrenewable energy in B power plant was considered with the bio-diesel, wind power and solarpower. The Net Present Value (NPV) and Benefit/Cost Ratio(BC) were used for the economicefficiency with the cost and benefit analysis. In case of bio-diesel, the cost resulted from the fuelconversion and the benefit would be created with trade and environmental improvement. Withregard to wind power and solar power, the construction cost would be required and benefit factorswould be same as the bio-diesel. The wind power was the best of economic efficiency of renewableenergy as the results of NPV and BC ratio. Whereas, the market of wind power was very popularand the techniques of wind power has been developing rapidly.

Citation status

* References for papers published after 2023 are currently being built.