The President Yoon Suk-yeol government, finding not easy to secure high-voltage direct circuit (HVDC) transmission lines along the East Coast, is expected to adopt a policy of expanding large-sized energy storage systems (ESS) connected with the power grid as a means of preventing a reduction in nuclear power generation.
Abrupt fires hit energy storage systems in recent years, thus leading to a reduction in the installation of such facilities.
But the government, which is committed to adding new nuclear power units, have to expand large-sized ESS facilities to preempt a reduction in nuclear power generation, since installation of HVDC transmission lines along the East Coast is delayed.
According to the 10th power supply master plan, finalized recently by the current government, the nation is predicted to need energy storage systems with a combined capacity of 26GW by 2026, costing a maximum of 45.4 trillion won.
The electricity supply master plan was determined based on a focus on nuclear power plants, but worry had surfaced that HVDC facilities may not be ready in time for transmission from new nuclear power units. Building large-sized ESS facilities had been raised as an alternative option.
A view of a large-sized energy storage systems (ESS) complex, dedicated by KEPCO in Gyeongsan City, Gyeongsangbuk-do. (Photo: KEPCO)
The importance of the ESS is growing as means not only to cut down on costs on power plant construction and transmission line installation, but also to cope with uncertainties of renewable energies.
BloombergNEF reported in January 2022 that the global market is predicted to surge from $11 billion in 2021 to $262 billion in 2030 in conjunction with renewal energies.
A breakout each in California in August 2020 and Texas in February 2021, and a power emergency situation in the U.S. East last December, caused by severe climate change, forced the United States to adopt the ESS to nurture the ESS industry and devote itself to developing technologies and implementing support policies, such as regulatory reform.
The U.S. “Storage Shot 2021” initiative calls for reducing large-sized ESS installation costs by 90 percent.
An issue of ordering a reduction in renewal energy production has come to a head in Korea in recent years.
Jeju Island and Jeolla provinces saw the portion of renewal energy production surge 26.3 and 23 percent during the first 11 months of last year, respectively, worsening power grid uncertainties and issuing orders to reduce a renewable energy production glut.
The electricity amounts ordered to restrict production is constantly rising. The figure, which stood at 1,300MWh in 2017, rose to 366MWh in 2018, 9,223MWh in 2019 and 13,416MWh in 2020.
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