LG CNS has launched the ‘Microgrid Solution’
LG CNS has released the Microgrid Solution, which maximizes the efficiency and economic feasibility of solar power plants through the establishment of the ESS (Energy Storage System) and the EMS (Energy Management System) for solar power plants.
A microgrid is one of the key elements of a smart grid.
A smart grid is an electric grid that is integrated with information communications technologies, where suppliers and consumers exchange information on power consumption and electric prices in real time for the purpose of reducing electricity usage across the board. In short, it is a next-generation power grid that optimizes energy efficiency.
The system enables consumers to store electricity late at night for use at peak hours. In addition to reducing the absolute amount of power consumption, a smart grid enables users to adjust their time of energy consumption depending on energy prices, which may fluctuate according to the supply and demand for electricity.
A smart grid covers a vast area such as an entire country, whereas a microgrid is designed for a smaller geographical area for the same purpose as a smart grid: to optimize energy efficiency via the real-time exchange of information on electricity consumption and costs between suppliers and consumers. A microgrid can be applied in diverse locations with relatively small budgets, including colleges, power plants, research institutes, manufacturing plants and islands. According to Navigant Research, a clean energy market research firm, the market for the microgrid is anticipated to grow from US$8.3 billion in 2013 to US$40 billion by 2020.
The ‘Microgrid Solution’ developed by LG CNS integrates the ESS into the existing facilities of renewable energy power plants such as generators, panel boards for power generation and services, and electric rooms. The solution also manages all of the components systematically through the EMS. However, as renewable energy generation fluctuates sharply depending on changes in the weather, revenues from power sales are far from stable. The electricity needed to run power plants must come from outside. LG CNS’s ‘Microgrid Solution’ has adopted the ESS to store surplus electricity when demand is low or when the prevailing weather conditions are favorable. Therefore, solar power plants equipped with the solution can supply surplus energy at peak times or use it for their own operation. Furthermore, solar power plants can improve their profitability and reduce their operating costs with the adoption of a microgrid solution.
LG CNS has developed the solution based on the experience and knowledge it acquired in participating in the execution of the Jeju Smart Grid Test-bed Project at Jeju Island, Korea. The company has successfully applied the solution to the Taean Solar Power Plant, Korea, which was built by LG Solar Energy as a demonstration project. The application of the technology has reduced the plant’s power consumption by around 65%, thereby lowering its operating costs to a considerable degree.
LG CNS is the country’s undisputed market leader in the construction of solar power plants. It is planning to supply the ‘Microgrid Solution’ not just to its new & renewable energy power plant construction projects, but also to existing renewable energy power plants across the country. The company is determined to do its utmost to fulfill its vision of ‘Constructing a Net Zero Power Plant’ that consumes zero power from outside, by dramatically reducing power plants’ energy consumption on the basis of continuous advances in its smart grid solution technologies.