• Environmental and Resource Economics Review
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• v.19 no.4
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• pp.829-852
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• 2010

The investment in Clean Development Mechanism (CDM) projects is increasing rapidly as the first implementation period began in 2008. This paper examines on the optimal level of primary Certified Emission Reduction (CER) price, subsidiary original projects investment cost and expected issues CER per year, using UNFCCC CDM Project Design Document (PDD) data. Real option model is developed to incorporate a case where the investment is irreversible and underlying asset price is uncertainty. This study employs Real option approach which allow the optimal level regard as economic feasibility of CER price has analyzed with NPV (Net Present Value) and Black-Scholes call option(Real option) value. Finally, CER supply curve and price elasticity of supply are estimated.

• Journal of Environmental Impact Assessment
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• v.21 no.2
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• pp.297-314
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• 2012

This study investigates the stigma effect of unwelcomed facilities on apartment prices through multiple regressions based on hedonic price method. The areas studied are Sang-gye Jugong 7, 9, 10 apartment complexes. The facilities analyzed are the Chang-dong Electric Subway Depot and the Do-bong Driver's License Agency. The factors studied include the environmental variable (the elapsed time since the announcement of the re-location of these facilities), the view commanding, the distance from Chang-dong Depot, the distance from Do-bong Driver's License Test Course, the distance from neighboring facilities (subway stations, schools, parks and so on), the floor and each dwelling's exclusive space. The data used are 2,822 sales which have been collected since January 1, 2006. The facts found are as follows; first, the view commanding and the distance from the unwelcomed facilities are statistically significant. second, the environmental variable, 'days' turns out to have a positive (+) and a negative (-) significant relationship with the dependent variable, 'price', in period II and period IV respectively. This implies that the stigma effect is real. third, there are significant differences in the influence on the apartment prices among the independent variables according to time. fourth, the stigma effect is estimated as 33,686,920 Korean won in the case of the apartments which have the view commanding and 30,311,844 won in the other case before the global economic crisis. This effect seems to decrease to 22,085,078 won after the crisis. These facts suggest that stigma effects could be considered as one of the benefits in the cost-benefit analysis of Chang-dong Depot re-location project to produce somewhat higher NPV or B/C ratio.

• Proceedings of the Korea Water Resources Association Conference
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• 2012.05a
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• pp.216-220
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• 2012

본 연구는 경기도 용인시에 위치한 공공하수처리장을 대상으로 소수력발전 성능특성을 예측하고 경제성을 분석하여 소수력발전소의 건설타당성을 제시하였다. 방류구에서의 수준측량 조사에 따르면 실제 유효 낙차는 4.3m로 나타났다. 최근 5년간 방류량 자료를 살펴보면 일평균 실제 처리량은 약 $30,000m^3/day$로 나타났으며, 우수 유입과 물 사용량이 증가하는 여름 및 가을에 처리량이 증가하였다. 설계유량은 유량변화에 따른 누적 확률밀도와 유량지속곡선에 근거해 산정하였으며, 시간빈도로 보았을 때 17%의 유량이 지속되는 $0.35m^3/sec$가 설계유량으로 나타났다. 예상되는 수차 발전용량은 11kW급이며, 시스템 가동율은 74%, 그리고 계통선에 송출될 수 있는 연 전력생산량은 71.3MWh로 나타났다. 경제성 평가는 신재생에너지 경제성 분석 도구인 RETScreen 프로그램을 사용하여 B/C ratio, IRR, 개발투자비 등의 경제성 평가지표들을 산정하였다. 편익(Benefit) 산정시 전력기준단가는 133.67원/kWh, 할인율 7%를 적용하였으며, 비용(Cost) 산정시 유지관리비는 초기 건설비의 1%, 사용연한 30년을 적용하였다. 경제성 분석결과 기흥레스피아의 소수력발전소 건설시 초기 건설공사비가 $165,000 일 때, B/C 1.0, NPV $3,534, 투자회수기간 15.1년으로 산정되었고 따라서 초기 건설비용이 $165,000 이하일 때 가장 경제적인 것으로 파악되었다.

• Korean Journal of Materials Research
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• v.32 no.3
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• pp.146-152
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• 2022

One disadvantage of deep cycle flooded lead-acid batteries is increasing water loss caused by use of (+) Pb-Sb / (-) Pb-Sb alloy grid. Water loss is generated by the emission of hydrogen gas from the (-) electrode during battery charging. In this paper, we maintain cycle life aspect through the development of hybrid flooded lead-acid batteries to which a (+) Pb-Sb / (-) Pb-Ca grid is applied and deal with the improvement of water loss. The amount of water loss compared to that of the (-) Pb-Sb grid decreased when Ca was added to the (-) Pb grid. For the (-) Pb-Ca grid, it was confirmed that the time to reach 0.0 V, at which water decomposition occurs, was increased compared to that of the (-) Pb-Sb grid at the NPV (Negative Potential Voltage). In the cycle life test conducted with the BCI (Battery Council International) standard, compared to the (+) Pb-Ca grid, the (+) Pb-Sb grid increased the life cycle of the batteries and the (+) Pb-Ca grid showed an early end of life due to PbO corrosion layer generation, as determined through SEM / EDS and Tear Down analysis. In conclusion, by addition of Sb to (+) Pb grid and Ca to (-) Pb grid, we developed a hybrid flooded lead-acid battery that meets user requirements to improve water loss characteristics and preserve cycle life characteristics.

• Journal of Energy Engineering
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• v.25 no.4
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• pp.141-151
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• 2016

Recently, technology for energy recovery from waste has been increasing interest globally including the Korea. In Korea, we have interested in using biogas generated from the sewage treatment process. As one alternative, there are operating biogas combined heat and power plant. The generation amount of the Sewage Sludge are expected to grow in the future. For this reason, total processing cost of Sewage Sludge will increase. To solve this problem, it seems will be invested with the expansion of facilities that use biogas as energy. Therefore, quantitative information on such facilities is required. Thus, this study attempts to economic feasibility analysis for Seonam Biogas Combined Heat and Power Plant. Meanwhile, as the benefit items for economic feasibility analysis consider electricity supply benefit except for heat supply benefit. The average prices of electricity use were residence 123.69, commercial 130.46, and industry 102.59 won per kWh for the year 2015, In addition, the economic benefit are calculated to be residence 310.21, commercial 378.49, and industry 222.87 won per kWh. The results of economic feasibility analysis is NPV 72.18 billion won, B/C 1.90, IRR 37%, shows that economic validity of Seonam Biogas Combined Heat and Power Plant.

• Journal of Korea Water Resources Association
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• v.40 no.12
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• pp.995-1005
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• 2007

This study presents a framework for optimum scale determination for small hydropower development in a river basin. The framework includes the construction of hydrology and topography data, the simulation of hydropower operation, the economic analysis, and the determination of optimum scale of the small hydropower. The optimum scale of design flow and facility are determined by Net Present Value among economic analysis indices. The investment cost is estimated by the cost function derived from the construction cost of existing small hydropower plants. The benefit from power generation is estimated by the price announced by government. The presented framework is applied to the two potential sites in Cho River basin for the dam and run-of-river type of plants. Finally, the sensitivity analysis for a design flow and scale of the plant is performed for the each site. The usage of the framework presented in the study is highly expected for the estimation of potential hydropower resources or the decision support tool for a proprietor by estimating the optimum scale and economical feasibility in advance.

• Journal of Korea Entertainment Industry Association
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• v.13 no.1
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• pp.111-119
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• 2019

The purpose of study was to evaluate the economic evaluation of Chuncheon curling stadium. In oder to estimate economic evaluation, benefit/cost ratio, net present value and internal rate of return were used. Additionally, in order to investigate the socio-economic spread effect, literature review and input-output analysis were used. The results of study were as follows. First, as a result of analyzing the demand for curling stadiums in Chuncheon, it was believed that the construction of the stadium will attract athletes from the Chuncheon region as well as athletes from Seoul, Incheon, Gyeonggi Province and North Chungcheong Province. Second, economic validity analysis showed that the initial investment did not make sense, but the players' training and competitions and the advantages of the potential experience of curling events for citizens in nearby areas, including Chuncheon, make the construction and operation reasonable. Third, as a result of the review of the social and policy validity of the curling stadium, the project to build a curling stadium in Chuncheon was secured with a policy validity as a public sports facility necessary for both professional and living athletes. Finally, the analysis of socio-economic spread effect of curling stadiums had shown that it would have a positive effect on the level of satisfaction of the general public as well as the discovery of elite athletes.

• Asian Pacific Journal of Cancer Prevention
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• v.14 no.3
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• pp.2037-2042
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• 2013

Background: Different methods of diagnosis have been found to be inefficient in terms of screening and early diagnosis of lung cancer. Cancer cells produce proteins whose serum levels may be elevated during the early stages of cancer development. Therefore, those proteins may be recognized as potential cancer markers. The aim of this study was to differentiate healthy individuals and lung cancer cases by analyzing their serum protein profiles and evaluate the efficacy of this method in the early diagnosis of lung cancer. Materials and Methods: 170 patients with lung cancer, 53 under high risk of lung cancer, and 47 healthy people were included in our study. Proteomic analysis of the samples was performed with the SELDI-TOF-MS approach. Results: The most discriminatory peak of the high risk group was 8141. When tree classification analysis was performed between lung cancer and the healthy control group, 11547 was determined as the most discriminatory peak, with a sensitivity of 85.5%, a specificity of 89.4%, a positive predictive value (PPV) of 96.7% and a negative predictive value (NPV) of 62.7%. Conclusions: We determined three different protein peaks 11480, 11547 and 11679 were only present in the lung cancer group. The 8141 peak was found in the high-risk group, but not in the lung cancer and control groups. These peaks may prove to be markers of lung cancer which suggests that they may be used in the early diagnosis of lung cancer.

• Journal of Korean Society of Rural Planning
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• v.23 no.1
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• pp.85-96
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• 2017

Existing agricultural reservoirs are considered as alternative source for the water welfare of rural area. In this study, domestic water supply potential of 476 reservoirs, which has storage capacity more than one million cubic meter, out of 3,377 agricultural reservoirs managed by Korean Rural Community Corporation (KRC) were investigated. Among them water quality of 136 reservoirs met the criteria of domestic water source which show less than COD 3 ppm. Available amount for domestic water of reservoirs, which meet the water quality, for ten year return period of drought was analyzed with reservoir water balance model. The results showed that 116 reservoirs has potential for supplementary domestic water supply while satisfying irrigation water supply. Finally, economic analysis using Net Present Value (NPV), Benefit-Cost (B/C) ratio, Internal Rate of Return (IRR), and Profitability Index (PI) methods was also conducted. The analysis showed that 19 reservoirs satisfied economic feasibility when water is provided from reservoir outlet but only 9 reservoirs meet the economic feasibility if water delivered from a reservoir to treatment plant by newly built conveyance canal. In order to supply the domestic water through the agricultural reservoirs managed by KRC, it is necessary to flexibly interpret and operate the 'Rearrangement of Agricultural and Fishing village Act'. Also, it is reasonable to participate in the water service business when there is a supply request from other Ministries. In addition, the KRC requires further effort to change the crop system for saving water and improve efficiency of irrigation systems.

• Clean Technology
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• v.20 no.1
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• pp.13-21
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• 2014

Because of the water scarcity caused by the increase of salinity in the underground water, seawater desalination stands out as one of the most promising solution. As there are so much energy costs in operating desalination plants, new hybrid process which is more effective should be researched. A geothermal VMD (vacuum membrane distillation) hybrid process is a competitive alternative for seawater desalination. Because geothermal energy has significant characteristics of high capacity factor to operate the power plant at full capacity for 24 hour per day, it can be a priority heat source of VMD superior to any other renewable energies such as solar and wind power. In this study, we design a geothermal VMD hybrid process, analyze it economically and finally compare the result with a case of conventional VMD process. Geothermal VMD hybrid process generates $23,822,409 of NPV (net present value) more than the conventional VMD process in case of 5% discount rate. The break-even point between these processes is 5.36 year. Sensitivity analysis indicates that steam cost is the most decisive influence variable to the economic outcome.