The Price of Korean Photovoltaic Technology and the Impact of R&D
Journal Title: Journal of Environmental Studies - Year 2016, Vol 2, Issue 2
Abstract
Solar Photovoltaic (PV) technology which is playing a major role in providing clean electricity in Korea has been particularly diffused by financial and political support since 2008. However, although the energy technology has made unprecedented progress over the last several years, it is expected to be continually diffused until 2035 when it will constitute 14.1% of renewable energy in the total primary energy supply (TPES) and have its generating price decreased by KRW 60.9/ kWh. This study uses 2-Factor Learning Curves (2FLC) to estimate future Korean PV module price considering both cumulative production and R&D investment. Subsequently, the Levelised Cost of Electricity (LCOE) that considers the module price anticipated before hand is applied to forecast the Korean PV generating price to estimate if the nation will reach its planned goal by 2035. As a result, the PV module price would decrease by USD 0.282/W in 2040 with 12.22% of Learning-by- Doing rate (LDR) and 10.44% of Learning-by-Searching rate (LSR) with 5 years of time-lag and 15% of depreciation rate in Knowledge stock (KS) estimated by R&D investment. The future PV generating price in 2035 is expected to be KRW 32.043-36.484/kWh, which is, the PV price that would reach its national target price by 2035 if current or similar levels of diffusion and R&D are offered in the time period.
Authors and Affiliations
Mina Lee
Keywords
Related Articles
- EP ID EP208582
- DOI 10.13188/2471-4879.1000013
- Views 146
- Downloads 0
Applying Biogeochemistry to Identify the Geographic Origins of Insects-A Model Using Prostephanus truncatus
The application of geochemical screening for tracking insects and other organisms is poorly understood. We explored multi-elemental profiles of an insect pest and its food from different locations in order to identify in...
Assessment of Particulate Matter Concentrations in a University Campus in Nigeria
A study on the assessment of particulate matter concentrations in Choba campus of the University of Port Harcourt and its implications on public health based on set limits were evaluated. The concentrations of particulat...
Effect of Soil Type on the Fate of Kerosene Compounds in the Presence of Water and Ethanol
The effect of soil type on the fate of kerosene compounds in the presence of water and ethanol was studied. Mini lysimeter experiments were conducted to compare the transport and sorption of kerosene compounds in differe...
Understanding the Concept of Carrying Capacity and its Relevance to Urban and Regional Planning
The increasing urbanization and the rapidly accumulating population have caused tremendous changes on the earth’s landscape which do not only trigger off improvement in civilization and modernization, but have also progr...
Assessment of Social Vulnerability for Efficient Management of Urban Pluvial Flooding in the Lagos Metropolis of Nigeria
Flooding of pluvial origin has been pervasive in the Lagos area of Nigeria, and threatens significant human populations and urban assets, resulting in large scale economic losses. Unfortunately, investigating especially...