Assessment of Stakeholder Benefits from Participating in Community-Shared Solar Photovoltaics Through Monthly Renting and Load Management in South Korea
Year: 2024
Type: article
Abstract: Various studies have explored community-shared solar (CSS) initiatives to help lower energy costs and increase the use of renewable energy sources. Various forms of CSS have been developed worldwide, specifically adapted to meet local economic and environmental conditions as well as technological readiness. This study proposes a variant of CSS that incorporates monthly photovoltaic (PV) rental options and load management functions for households in South Korea, a country characterized by limited land availability, high population density, and extremely high land-use costs. This study evaluates the feasibility of the proposed CSS by assessing the economic benefits for all stakeholders involved, including households, the CSS business (or government), and the grid service provider. It utilizes a mathematical programming model for its formulation and employs an iterative algorithm based on Karush–Kuhn–Tucker conditions for solving it. Additionally, a numerical assessment is conducted with 400 customers classified into three different categories of energy usage. The findings indicate that participating households experienced a reduction in electricity costs ranging from 36.8% to 56.7%, depending on the season and specific scenarios. The CSS business also realized significant profits while the grid service provider benefited from reduced fluctuations in power supply, leading to improved efficiency in grid operations and maintenance.
Source: Sustainability
DOI: 10.3390/su162410878
Authors: Somi Jung, Dongwoo Kim
Institution: Hanyang University
Language: English
Topic: Smart Grid Energy Management
Subfield: Electrical and Electronic Engineering
Field: Engineering
Domain: Physical Sciences
Open Access status: gold
Estimated APC paid: $2,728
Award: G6432907039
OpenAlex ID: W4405332956