1. Energy Modelling Lab. Department of Energy Studies, Energy Systems Division, Ajou University Prof. Suduk Kim suduk@ajou.ac.kr Introduction to the Energy Issues: Starting from Power Sector

2. Question! 01000001 1 Byte = 8 bits ASCII Code American Standard Code for Information Interchange

3. Apple II -> Year 1977 My First personal Computer, year 1985!!! 1 Byte = 8 bits X 2 ^10 1024 Byte = 1KB 48KB Question! How many times bigger? USD 1 = KRW 1150 USD 214= KRW 247,000

4. Electric Power & Tariff How much of electric power to be consumed if this computer is ‘power on’ for one whole month? 150W x 24Hour x 30Days = 108,000Wh = 108kWh

5. Understanding of Units Source: http://en.wikipedia.org/wiki/Nano-

6. Korea Nuclear Power Plants (Kori) One Nuclear Power Plant Capacity 1GW = 1,000MW = 1,000,000kW

7. Photovoltaic 7 East Sun Power Gen. Co. - 24MW, 0.7Mil m 2, US 200Mil. 1 Nuclear Power Plant => 1GW = 1000MW 24MW x 40 approx. 1000MW Capacity : to be equivalent to 1 Nuclear Power Plant (x 40 times) -> 28 Mil m 2, US 8,000 Mil. (US 8 Bil.) Power Generation: to be equivalent to 1 Nuclear Power Plant (x 5 times) (with capacity factor of 20%, tracking device) -> 140 Mil. m 2, US 40 Bil. ** Still we don’t get power during the night, rainy days,…

8. Technical Advancements (ex: Wind) Source: SRREN, IPCC, 2011

9. Power Mix Change Since Late 1970s 9 Source: Data compiled from KESIS Note: Figures after 2010 are projections taken from MKE (2010).

10. Ilustration of SMP, based on the merit order of March 2010 10 Q: Is hydropower to be included in this merit order? Q: Is Hourly load always to be vertical? What if it is not?

11. 11 - the need to have a framework to facilitate the Demand Response in power market - the Importance of the bilateral information exchange Economics of Smart Grid (Demand Response)