Korean Journal of Air-Conditioning and Refrigeration Engineering (설비공학논문집)

The Society of Air-Conditioning and Refrigerating Engineers of Korea (대한설비공학회)
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Verification Experiment and Analysis for 6kW Solar Water Heating System (Part 4 : Comparing Economics and Raising Competitiveness)

6kW급 태양열 온수급탕 시스템의 실증실험 및 분석 (제4보 경제성비교 및 경쟁력강화)

  • Lee Bong Jin (Graduate School, KyungHee University) ;
  • Kang Chaedong (Dept. of Mechanical Engineering, Chonbuk National University) ;
  • Lee Sang Ryoul (Leewoos Co., Ltd.) ;
  • Hong Hiki (School of Mechanical and Industrial System Engineering, KyungHee University)
  • 이봉진 (경희대학교 대학원) ;
  • 강채동 (전북대학교 기계항공시스템공학부) ;
  • 이상렬 ((주)리우스) ;
  • 홍희기 (경희대학교 기계산업시스템공학부)
  • Published : 2005.03.01
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Abstract

It has been recognized that solar water heating systems are economically inferior to conventional gas water-heaters and boilers using light oil as fuel in spite of having practical possibilities among other alternative energy facilities in Korea. The solar system, however, should be revaluated due to the sharp rise of oil prices recently. We have calculated the energy amount and cost through a series of research projects for the system by experiment and simulation, which lead to analyzing reliable life cycle costs. For the economic analysis, the gas water-heater and light oil boiler were taken as base cases while the solar systems implemented with these facilities were compared as alternatives. As a result, the solar system using the light oil as an auxiliary fuel surpassed the light oil boiler in economics. And a $50\%$ government subsidy for the initial cost is needed to maintain competitiveness with the gas hot-water heater. With this support, the simple payback period of the system can approach 12.8 years under $20\%$ additional curtailment of expenditure.

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References

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