Optimal Hybrid Renewable Power System for an Emerging Island of South Korea: The Case of Yeongjong Island

Abstract

South Korea, which has led in "green growth" since 2012, is now focusing on investigating new-growth engine industries such as the gaming industry and mega-resort development. Yeongjong Island is the most representative and promising location for nurturing the gaming industry, which has already generated more than 20 billion USD. However, the construction of mega resort clusters generates critical energy issues. Despite this potential problem, local governments and South Korea's central government have not yet established a sustainable energy blueprint plan. Thus, we analyzed and suggested an optimal hybrid renewable power system for Yeongjong Island by using empirical data (load data, climate data, equipment data, and economic variables). The results of the study academically show 100% of electricity in Yeongjong Island with renewable energy-oriented hybrid system technologically, economically, and socially feasible for the following reasons: First, the island's renewable energy station has a lower cost and a shorter construction period than other energy stations. Second, the island's renewable energy station produces no carbon dioxide and has no risk of other environmental pollution that may encounter resistance from local residents.