Case study: Renewable electricity generation systems on Geoje Island in South Korea

Since the concept of "green growth" has become a main growth strategy for South Korea, the South Korean Government has consistently invested in the distribution and installation of renewable power generation systems, such as recommending that island communities install renewable power generation systems to reduce the cost of maintaining and operating the electricity grid system linking the islands to the mainland. Given the South Korean energy industry's heavy dependence on nuclear and fossil fuels, such renewable power generation systems are advised for both mainland and island communities. Therefore, the current study uses the Hybrid Optimization of Multiple Energy Resources (HOMER) program software to explore possible solutions to the installation and operation of independent and renewable electricity generation systems on Geoje Island, the second largest island in South Korea. The results show that photovoltaic panels, batteries, wind turbines, and converters can be used to organize such a system on Geoje Island. This study presents an optimized electricity generation system in the context of the total net present cost, fraction of renewables, and cost of energy (COE). The suggested system presents a 1.00 fraction of renewables at a COE of $0.472 per kW h. Implications, limitations, and future research areas are presented.