Work

Economic Viability of Photovoltaic Systems Based on the Number of Floors in Modular Multi-Family Housing in Korea

Year: 2024

Type: article

Abstract: Korea is making efforts to reduce carbon emissions from buildings and, as part of this initiative, the government is promoting the expansion of modular housing. This study analyzed the feasibility of achieving zero-energy certification and the economic viability of applying photovoltaic (PV) systems to modular housing in Korea. Energy consumption and self-sufficiency were calculated for low-rise (4 floors), mid-rise (13 floors), and high-rise (30 floors) buildings. Economic viability was assessed according to the payback period, net present value (NPV), and benefit–cost ratio (B/C ratio). Construction costs of modular buildings are higher than those of reinforced concrete (RC) buildings, and when only PV systems are applied, it is not possible to achieve a high grade in high-rise buildings. The results indicate that economic feasibility is lacking across all building heights, leading to the conclusion that further research on cost reduction and expanded government support are necessary. This study presents a sustainable building model for Korea that is expected to contribute to future policy decisions.

Source: Energies

DOI: 10.3390/en17246281

Authors: Seyeon Lee, Chanwoo Jung, Yonghan Ahn

Institution: Hanyang University

Language: English

Topic: Photovoltaic Systems and Sustainability

Subfield: Environmental Engineering

Field: Environmental Science

Domain: Physical Sciences

SDGs: Climate action, Affordable and clean energy, Sustainable cities and communities, Industry, innovation and infrastructure

Open Access status: gold

Estimated APC paid: $2,955