Estimating the ELCC-based Marginal Capacity Credits of Renewable Energy in Korea

Solar and wind power are anticipated to play significant roles in Korea's future power generation mix.This study estimates Capacity Credit (CC) using the effective load-carrying capability (ELCC) method, which is essential for evaluating the contribution of renewable energy to peak electricity demand and for long-term economic capacity planning.By introducing the concept of marginal CC, we analyzed various scenarios using five years of data on electricity demand and capacity factors for solar and wind power.The results highlight the impact of baseline capacity on the marginal CC for different renewable energy target capacities, emphasizing the potential for optimal capacity combinations.This study offers insights for policymakers aiming to integrate renewable energy effectively while maintaining the reliability of power systems.