LAPSE:2021.0098
Published Article
LAPSE:2021.0098
Simulation Data of Regional Economic Analysis of OTEC for Applicable Area
Lim Seungtaek, Lee Hosaeng, Moon Junghyun, Kim Hyeonju
March 1, 2021
To mitigate the power shortage problem in the South Pacific island nations and the equatorial area, we studied the development characteristics of ocean thermal energy conversion (OTEC) using abundant clean ocean energy. Through the simulation of open- and closed-cycle OTEC, the generation amount and its economic efficiency were compared, and the application characteristics of the power generation cycle according to the seawater temperature distribution were compared by applying various seawater temperature conditions. According to the characteristics of seawater heat sources in the region, the power generation output was about 883.2 kW in Samoa, and the average power generation by region was about 650.5 kW for the open-cycle OTEC model. Regional revenue up to approximately $8,487,000 was generated in Kiribati, driven by the higher electricity tariff of $0.327/kWh and high water costs of $5.86/ton. With the spread of 50 MW commercial plants, Kiribati had a high net present value of $1,930,402,000, and its internal rate of return was more than 37.0%. This paper is presents a method of securing economic feasibility of OTEC according to various heat source conditions and economic conditions in the region, while it also analyzes the capacity and type of the power plant.
Keywords
closed cycle, internal rate of return, net present value, ocean thermal energy conversion, open cycle
Suggested Citation
Seungtaek L, Hosaeng L, Junghyun M, Hyeonju K. Simulation Data of Regional Economic Analysis of OTEC for Applicable Area. (2021). LAPSE:2021.0098
Author Affiliations
Seungtaek L: Seawater Utilization Plant Research Center, Korea Research Institute of Ships & Ocean Engineering, Daejeon 34103, Korea [ORCID]
Hosaeng L: Seawater Utilization Plant Research Center, Korea Research Institute of Ships & Ocean Engineering, Daejeon 34103, Korea
Junghyun M: Seawater Utilization Plant Research Center, Korea Research Institute of Ships & Ocean Engineering, Daejeon 34103, Korea
Hyeonju K: Seawater Utilization Plant Research Center, Korea Research Institute of Ships & Ocean Engineering, Daejeon 34103, Korea; Offshore Plant Research Department, Korea Research Institute of Ships & Ocean Engineering, Daejeon 34103, Korea
Journal Name
Processes
Volume
8
Issue
9
Article Number
E1107
Year
2020
Publication Date
2020-09-05
Published Version
ISSN
2227-9717
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Original Submission
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PII: pr8091107, Publication Type: Journal Article
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LAPSE:2021.0098
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doi:10.3390/pr8091107
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Mar 1, 2021
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Mar 1, 2021
 
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Calvin Tsay
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