Proposed optimized energy plan for the largest island of South Korea based on full renewable energy resources

Abstract

The current study's objective is to evaluate wind and solar energy and select the finest kind of energy systems having minimum levelized of energy systems by using Home Pro software for Jeju Island, the largest island in South Korea. Using Weibull and mean wind speed diagrams, the wind conditions in the initial section of this study are explained. To assess the wind potential of every area, size and form criteria are offered. It was found that two main wind directions were southeast or southwest, with southwest being more common. Finally, based on the wind conditions at each site and IEC recommendations, a set of five wind turbines that were best suited for each location were shortlisted. Each wind turbine's performance was assessed using technical criteria, that is, monthly energy production, annual energy production, and capacity factors. Similar to this, economic considerations such as the levelized cost of electricity, internal rate of return, payback period, and net present value were also made. A Hanjin model HJWT 87/2000 is best suitable for Jeju Island in the event of an off-shore wind farm, according to the findings. To explore the implications of modifying the hub height of the turbines on the economics of wind generating, a thorough economic sensitivity analysis is also included. The second section explains the solar potential of the Island. The average solar energy potential of Jeju Island is estimated to be 13.775 Mj·m²·day⁻¹. To cover the energy demand and supply gap for Jaju Island, various types of local electricity generators and batteries have been studied for finding the optimal energy system for the island.