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Future Electric System: Paradigm Shift and Challenges

Author Shim Woojung, Kim, Sanghoon Date 2014.09.11 Issue No 597
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Electric energy and its system are core infrastructures that are closely related with modern life and economic growth


Korean industrial economy is closely related to electric energy, and the electric power consumption at the moment also increased by about 60 times compared to the 1970s while having grown by about two times more than in the 2000s.

Some limitations are being revealed in the conventional electric system led mainly by large scale centralized power generation station, and the recent technology development signals the emergence of new electric system.


The current system has a structural inefficiency stemming from large-scale power generation, long-distance power transmission and inability to store electricity power, which enables only a simple business model such as production, and sales of electricity,


For the ‘sustainable growth’ which is arising as an critical issue, a new vision for new electric system is being suggested mainly by the U.S.

The core base technology which takes the lead in the shift toward future electric system, is closely related to the diversification and distribution of energy production source, and the degree of freedom in power transmission


Energy storage system, renewable energy and wireless power transmission are receiving spotlight as future technologies which can transform the current electric system into innovative system.  


Evolution into new electric system would provide a base for electric power industry to move toward a flexible and distributed service business model.  

The recent technology innovation in the related field, raises the expectation for new electric system. However, there are still many technological, market and socio-institutional barriers.

The reliability and economic feasibility of technology has not been secured enough for new system. Not only that, it is also necessary to improve the relevant institutions such as electric charge, electric power market, interoperability and information security.

 

To convert the current system into new electric energy system, it is necessary to pursue continuous technology innovation and improve the social acceptance for the new system

As electricity which is inseparably related to the daily lives of modern people, has a great spillover effect on the entire society as a public infrastructure, it is desirable to make an effort earlier to improve the social acceptance for the new system by connecting the system to the estimation of technological development trend.