Techno-economic feasibility of hybrid renewable energy systems for continuous demand coverage at the provincial level in South Korea

초록

This study concerns the need to provide alternatives to the current regime of fossil-fuel energy toward achieving net zero CO2 emissions and limiting the rise in global average temperatures. Here, we focus on the development of hybrid renewable energy systems (HRESs), which combine wind energy, photovoltaic systems, and energy storage to meet the growing demand for renewable energy in South Korea. In this study, the Multi-Objective Particle Swarm Optimization algorithm is utilized with an HRES to determine the optimal HRES configuration, evaluated by measuring the net present cost while ensuring that energy demand can be reliably met. We find that solar photovoltaic will yield grid parity in nearly 94.4 % of the regions examined throughout South Korea by 2030, indicating its cost-effectiveness over wind power. However, the most optimal HRES configuration over most of South Korea is the WT-PV-ESS configuration, which combines wind turbines, photovoltaic systems, and universal energy storage, providing the most cost-effective solution. We believe that this study will lay the foundation for further investigation into the analysis and optimization of renewable energy sources in South Korea, paving the way toward reaching our energy goals. © 2025

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