|Policy status:||In Force|
|Policy Type:||Research, Development and Deployment (RD&D)>Demonstration project|
|Energy Efficiency Policy Targets:||Energy Utilities, Electricity, Transmission/distribution|
|Agency:||the Ministry of Trade, Industry and Energy (MOTIE)|
|Funding:||The total investment was KRW 239.5 billion, 30% of which was funded by the government.|
|Evaluation:||During the project, over 150 smart grid related technologies were tested and verified in the real environment. Of the nine business models newly identified, six were implemented during the project: (i) commercialised smart appliances applicable to real-time pricing; (ii) EV rental service in Jeju; (iii) advanced building energy management system; (iv) advanced demand response system; (v) factory energy management system; and (vi) electric bicycle sharing service at Jeju National University. By implementing smart grid technology, peak demand decreased by 3.6% in the test bed area and consumers were able to reduce more than 14% of their electricity usage via photovoltaic and smart appliances and energy storage systems.|
|Energy Efficiency Description:|
In 2009, the Ministry of Trade, Industry and Energy (MOTIE) selected Jeju Island, the country’s southernmost island, as the site for a smart grid test bed. The Jeju Smart Grid Demonstration Project was inaugurated with the participation of 12 consortia consisting of 168 companies.
MOTIE anticipated that the project would represent the world’s largest smart grid test bed, enabling participants to test cutting-edge smart grid technologies. The project sought to verify smart grid technology; develop new business models; commercialise the newly identified business models; and export the advanced technology abroad.
The Jeju test bed has five project domains:
The early stage of the project (December 2009 to June 2011) focused on constructing the infrastructure for Smart Power Grid, Smart Place and Smart Transportation to link the grid networks with consumers and EVs. The expansion stage (June 2011 to May 2013) integrated the operations of Smart Electricity Service and Smart Renewables, offering innovative power services and accommodating renewable energy sources to the grid.
Last modified: Thu, 21 Nov 2013 10:52:01 CET