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Renewable & Sustainable Energy Reviews

Supplementary material for

A model for determining the optimal lease payment in the solar lease

business for residences and third-party companies

- With focus on the region and on multi-family housing complexes -

Taehoon Hong1, Hyunji Yoo2, Jimin Kim3,*, Choongwan Koo4, Kwangbok Jeong5, Minhyun

Lee5, Changyoon Ji6 and Jaewook Jeong6

1 Professor, Department of Architectural Engineering, Yonsei University, Seoul, 03722,

Republic of Korea2 Graduate Research Assistant, Department of Architectural Engineering, Yonsei University,

Seoul, 03722, Republic of Korea3 Visiting Scholar, Division of Construction Engineering and Management, Purdue

University, West Lafayette, IN 47907, USA & Research Professor, Department of

Architecture and Architectural Engineering, Yonsei University, Seoul, 03722, Republic of

Korea (CORRESPONDING AUTHOR)4 Assistant Professor, Department of Building Services Engineering, the Hong Kong

Polytechnic University, Kowloon, Hong Kong5 Ph.D. Candidate, Department of Architectural Engineering, Yonsei University, Seoul,

03722, Republic of Korea6 Ph.D., Department of Architectural Engineering, Yonsei University, Seoul, 03722, Republic

of Korea

* Yonsei University

50 Yonsei-ro, Seodaemun-gu, Seoul, 03722, Republic of Korea

82-2-2123-8322 (T); 82-2-365-4668 (F)

[email protected]

S1


16 pages

15 Tables

8 Equations

S2


Tables

Table S1. Electricity rates of single contract in South KoreaBase rates Electricity rates

Amounts Rates Amounts RatesBelow 100 kWh 0.35 Below 100kWh 0.05101 ~ 200kWh 0.63 101 ~ 200kWh 0.09201 ~ 300kWh 1.09 201 ~ 300kWh 0.13301 ~ 400kWh 2.74 301 ~ 400kWh 0.19401 ~ 500kWh 5.23 401 ~ 500kWh 0.28Above 500kWh 9.28 Above 500kWh 0.50

Note: When the electricity consumption is 350kWh, the electricity bill is calculated as following: US$1.09+(US$0.05*100kWh)+

(US$0.09*100kWh)+(US$0.13*50kWh) = US$ 21.59.

S3


Table S2. The impact factors of solar PV system and solar lease business in multi-family housingImpact factors Unit Reference

Solar PV systemfactors

Regional factors

Latitude °N Hong et al. [32], Hummon et al. [33], Koo et al. [34]Levinson et al. [35], Siraki and Pillay [36], Tang and Wu [37]

Monthly meridian altitude ° Hong et al. [32], Kaldellis and Zafirakis [38], Koo et al. [34]Monthly average daily

solar radiationkWh/m2/day Kaldellis and Zafirakis [38], Kesler et al. [39], Koo et al. [40], Koo et al.

[34], Lee et al. [41], Leloux et al. [42], Siraki and Pillay [46]Monthly average

temperature°C Dincer and Meral [43], Farahat et al. [44], Hong et al. [32], Koo et al. [34],

Leloux et al. [42]Installation factors

Azimuth of the installed panel (AoP)

° Gong and Kulkarni [45], Hummon et al. [33], Hong et al. [32], Kaldellis and Zafirakis [38], Kesler et al. [39], Koo et al. [34],

Leloux et al. [42], Levinson et al. [35], Mousazadeh et al. [46], Siraki and Pillay [36], Tang and Wu [37], Ubertini and Desideri [47]

Slope of the installed panel (SoP)

° Gong and Kulkarni [45], Hong et al. [32], Hummon et al. [33], Kaldellis and Zafirakis [38], Kesler et al. [39], Koo et al. [34], Leloux et al. [42],

Mousazadeh et al. [46], Siraki and Pillay [36], Tang and Wu [37], Tiris and Tiris [48], Ubertini and Desideri [47], Weinstock and Appelbaum [49]

Type of the panel (ToP) and inverter (ToI)

Cucchiella and D’Adamo [50], Gong and Kulkarni [45], Kesler et al. [39], Leloux et al. [42]

Width and length limit m Farahat et al. [44], Gong and Kulkarni [45], Weinstock and Appelbaum [49]Solar leasefactors

Factors of residence

Number of units (NoU) Bergemann et al. [24], Hong et al. [51], Hong et al. [52], Koo et al. [53], Rickerson et al. [23]

Electricity consumption (EC)

kWh Hong et al. [54], Hong et al. [55], Hong et al. [56], Hong et al. [57], Jeong et al. [58], Kim et al. [59], Liu et al. [60], Park and Hong [61], Park and Hong

[62], Rai and Sigrin [63]Electricity rates system US$ Kim et al. [64], Liu et al. [60], Poh and Susarla [13], Rai and Sigrin [63],

Shin and Chou [65]Government subsidy

Renewable Energy Point (REP)

US$ Hong et al. [66], Kim et al. [67], Shin and Chou [65]

S4


Table S3. Optimization objectives for the optimal lease payment in solar lease businessObjectives Unit Reference

Cost of solar PV installation (CI) US$ ( ) Amer et al. [69], Arabali et al. [70], Freitas et al. [71], Khatib et al. [72],

Makhloufi [73], Sheng et al. [74]Annual electricity generation (AEG) ( ) kWh Bojić et al. [75], Chao et al. [76], Freitas et al. [71], Ioannou et al. [77],

Notton et al. [78], Saad et al. [79], Sulaiman et al. [80]Saving-to-investment ratio

(SIR) ( ) Koo et al. [81]

S5


Table S1. Monthly average daily solar radiation by region in South Korea (as of 2011)

No Region Alternative observation Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Average

Value RankR1 Jeollanam Mokpo 2.63 3.32 4.97 5.50 5.18 4.86 4.77 3.53 4.81 3.95 2.22 2.03 3.98 4R2 Gyeongsangnam Jinju 3.41 3.41 5.12 5.70 5.11 5.14 4.63 3.80 4.56 3.80 2.29 2.66 4.14 1R3 Ulsan Pohang 3.18 2.89 5.07 5.28 4.91 5.51 4.88 3.95 3.92 3.69 2.26 2.58 4.01 2R4 Busan - 3.15 3.18 5.03 5.40 4.76 4.66 5.11 4.00 4.29 3.60 2.29 2.54 4.00 3R5 Gwangju - 2.94 3.30 5.02 5.44 5.10 4.88 4.27 3.53 4.62 3.64 1.89 1.81 3.87 6R6 Gyeongsangbuk Andong 3.04 3.18 4.98 5.00 5.01 5.44 4.31 4.00 4.04 3.51 2.19 2.50 3.93 5R7 Jeollabuk Jeonju 2.73 3.04 4.83 5.12 4.92 5.14 3.88 3.49 4.26 3.65 2.27 2.08 3.78 8R8 Daejeon - 2.91 3.18 4.89 5.06 5.00 5.23 3.78 3.74 4.25 3.63 2.28 2.22 3.85 7R9 Chungcheongnam Seosan 2.77 3.22 4.67 4.81 4.99 4.74 3.36 3.40 4.39 3.55 2.21 2.07 3.68 10R10 Chungcheongbuk Cheongju 2.62 2.86 4.54 4.66 4.81 4.92 3.56 3.68 4.04 3.37 2.15 2.12 3.61 12R11 Gyeonggi Suwon 2.72 3.04 4.61 4.71 4.86 4.70 3.30 3.65 4.30 3.23 2.05 2.11 3.61 13R12 Daegu - 2.98 2.97 4.78 4.90 4.79 5.06 4.09 3.60 3.83 3.30 2.03 2.02 3.70 9R13 Incheon - 2.75 2.96 4.70 4.57 4.80 4.72 3.39 3.65 4.20 3.37 2.03 2.24 3.62 11R14 Gangwon Gangneung 2.90 2.92 4.50 4.61 4.23 5.32 3.14 4.08 3.56 3.41 2.06 2.32 3.59 14R15 Seoul - 2.76 3.01 4.54 4.68 4.75 4.56 3.07 3.40 4.16 3.26 1.76 1.93 3.49 15

Note: The unit of the monthly average daily solar radiation (MADSR) is kWh/m2/day.

S6


Table S2. Monthly average temperature by region in South Korea (as of 2011)

No Region Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. AverageValue Rank

R1 Jeollanam -2.09 3.24 5.33 11.53 17.43 21.66 25.52 25.13 22.10 15.29 12.68 3.00 13.40 6R2 Gyeongsangnam -2.24 3.73 6.18 12.49 17.49 22.11 25.45 25.31 22.13 15.19 12.08 2.55 13.54 5R3 Ulsan -1.90 4.30 6.70 12.60 17.20 22.00 25.20 25.30 21.80 15.80 12.30 3.20 13.71 4R4 Busan -0.70 6.10 7.40 13.10 17.30 21.30 25.10 25.80 23.30 17.60 14.10 4.40 14.57 1R5 Gwangju -3.40 3.10 5.30 12.20 19.00 23.30 26.50 25.90 22.70 15.40 12.60 2.20 13.73 3R6 Gyeongsangbuk -4.48 2.00 4.95 11.54 16.85 22.12 24.87 24.78 20.65 13.45 10.23 0.55 12.29 8R7 Jeollabuk -6.10 0.87 3.46 10.46 17.57 22.17 25.44 25.03 20.74 13.01 10.91 0.19 11.98 11R8 Daejeon -5.70 1.80 4.50 11.60 18.10 22.70 25.70 25.80 21.20 13.50 11.20 0.40 12.57 7R9 Chungcheongnam -5.90 0.98 3.72 10.43 17.45 21.78 25.20 25.23 20.65 12.90 10.87 0.03 11.95 12R10 Chungcheongbuk -7.56 0.36 3.26 10.54 17.30 22.00 24.82 24.70 19.64 11.88 9.42 -1.46 11.24 13

R11 Gyeonggi -8.03 -0.23 3.20 9.53 16.40 20.60 23.90 24.63 20.03 12.50 9.67 -1.50 10.89 14

R12 Daegu -2.50 4.20 7.00 13.70 18.80 24.30 26.80 26.20 23.00 15.70 11.90 2.30 14.28 2

R13 Incheon -5.60 1.40 4.20 10.00 16.80 20.00 23.90 25.00 21.70 14.80 11.40 0.40 12.00 10

R14 Gangwon -6.69 0.37 3.19 9.81 15.59 20.73 23.19 24.29 19.14 12.54 9.19 -1.46 10.82 15

R15 Seoul -7.20 1.20 3.60 10.70 17.90 22.00 24.60 25.80 21.80 14.20 10.70 -0.90 12.03 9

Note: The unit of the monthly average temperature is °C.

S7


Table S3. Latitude and meridian altitude at noon of winter solstice by region in South Korea

No Region Latitude (°N)Meridian altitude

at noon of winter solstice (°)

Value Rank Value RankR1 Jeollanam 34.48 15 32.02 1R2 Gyeongsangnam 35.10 12 31.40 3R3 Ulsan 35.32 11 31.18 5R4 Busan 35.10 12 31.40 3R5 Gwangju 35.09 14 31.41 2R6 Gyeongsangbuk 36.33 7 30.17 9R7 Jeollabuk 35.49 10 31.01 6R8 Daejeon 36.20 8 30.30 8R9 Chungcheongnam 36.46 5 30.04 11R10 Chungcheongbuk 36.38 6 30.12 10R11 Gyeonggi 37.15 4 29.35 12R12 Daegu 35.52 9 30.98 7R13 Incheon 37.28 3 29.22 13R14 Gangwon 37.45 1 29.05 15R15 Seoul 37.30 2 29.20 14

S8


Table S4. Profile of the panel in the solar photovoltaic system

Product namePower

capacity (w)

Efficiency (%)

Miscellaneous losses (%)

Unit Size(mm)

Width Length Thickness

CS6X-300P 300 14.00% 3.00% 1955 983 40

Table S5. Profile of the inverter in the solar photovoltaic system

Product name Power capacity(kW)

Efficiency (%)

Miscellaneous losses(%)

SMA-500CP-JP 500 98.00 3.00

Table S6. The optimal slope of the solar photovoltaic system by region

No. Region Optimal slopeof panel (°) Rank

R1 Jeollanam 28.496 15R2 Gyeongsangnam 33.790 4R3 Ulsan 32.082 11R4 Busan 32.110 10R5 Gwangju 30.686 12R6 Gyeongsangbuk 34.051 3R7 Jeollabuk 30.489 13R8 Daejeon 32.587 8R9 Chungcheongnam 32.171 9R10 Chungcheongbuk 29.950 14R11 Gyeonggi 33.264 6R12 Daegu 33.116 7R13 Incheon 33.492 5R14 Gangwon 34.584 1R15 Seoul 34.397 2

S9


Table S7. Assumptions on key elements for the life cycle cost (LCC) analysesClassification Detailed description

Analysis approach Savings-to-investment ratio (SIR)Analysis period 7 yearsReal discount rate Interest 2.83%

Electricity 4.74%Multi-family housing information Number of units (NoU)

Electricity consumption per unitElectricity rate system

SIR of Residence (SIR_R) Costs Lease payment (LP)Benefits Electricity bill savings

SIR of Third-party company (SIR_T) Costs Cost of the solar PV installation (CI)Cost of the replacement/repair (CR)

Benefits Lease payment (LP) incomeRenewable energy point (REP) income

Table S81. The maximum power capacity limits and monthly lease payment limits by the number of units of multi-family housing

Maximumpower capacity limit (kW) Number of units Maximum

monthly lease payment limit ($)

10below 30 6.56

31~40 4.8341~50 3.88

2051~60 6.5661~70 5.5271~80 4.83

3081~90 6.5691~100 5.95

above 101 5.44Note: the exchange rate (KRW/USD) is 1,159 won to a U.S. dollar (as of Nov 9, 2015).

S10


Table S12The result for calculating the optimal lease payment by region when the minimum SIR_R is constraint to 1.25

No

Lease payment Solar PV system Residence Third-party company

LPkWh

($)

Constraint Objective Constraint Objective Constraint Constraint Objective Constraint Impact factor Objective Impact

factorA B C D E F G H I J K L

F/G F-G (G+J)/(K+L)

(G+J)-(K+L)

Monthly LP ($)

AEG(kWh)

PC(kW) SIR_R Net Income

($) ES ($) LP ($) SIR_T Net Income ($)

REP income ($) CI ($) CR ($)

R1 0.13 1.67 34,498 29.7 1.256 7,684.75 37,682.33 29,997.58 1.320 17,017.12 40,198.38 49,951.91 3,226.94

R2 0.13 1.66 34,378 29.7 1.253 7,577.45 37,470.69 29,893.24 1.315 16,772.95 40,058.56 49,951.91 3,226.94

R3 0.13 1.61 33,656 29.7 1.256 7,402.87 36,292.26 28,889.39 1.281 14,926.66 39,216.11 49,951.91 3,226.94

R4 0.13 1.61 33,637 29.7 1.259 7,485.38 36,360.18 28,874.79 1.280 14,892.26 39,196.30 49,951.91 3,226.94

R5 0.13 1.59 32,958 29.7 1.252 7,244.59 35,902.24 28,657.65 1.261 13,881.61 38,402.80 49,951.91 3,226.94

R7 0.13 1.59 32,855 29.7 1.256 7,328.60 35,895.82 28,567.22 1.257 13,669.99 38,281.62 49,951.91 3,226.94

R6 0.13 1.58 32,871 29.7 1.252 7,166.66 35,566.31 28,399.65 1.254 13,523.40 38,302.59 49,951.91 3,226.94

R8 0.13 1.57 32,596 29.7 1.256 7,222.66 35,382.13 28,159.47 1.244 12,959.29 37,978.67 49,951.91 3,226.94

R9 0.13 1.54 31,826 29.7 1.256 7,087.13 34,760.48 27,673.35 1.218 11,578.30 37,083.79 49,951.91 3,226.94

R10 0.13 1.53 31,642 29.7 1.252 6,934.36 34,447.72 27,513.36 1.211 11,203.91 36,869.39 49,951.91 3,226.94

R11 0.13 1.50 -31,116 29.7 1.253 6,853.30 33,909.29 27,055.99 1.191 10,133.64 36,256.49 49,951.91 3,226.94

R13 0.13 1.50 31,074 29.7 1.256 6,940.71 33,961.05 27,020.34 1.189 10,050.22 36,208.72 49,951.91 3,226.94

R12 0.13 1.49 31,097 29.7 1.259 6,973.40 33,839.54 26,866.14 1.187 9,921.65 36,234.36 49,951.91 3,226.94

R14 0.13 1.48 30,533 29.7 1.254 6,762.27 33,311.33 26,549.06 1.168 8,947.40 35,577.18 49,951.91 3,226.94

R15 0.14 1.47 29,926 29.7 1.250 6,589.48 32,944.35 26,354.87 1.151 8,045.93 34,869.90 49,951.91 3,226.94

Note: aLPkWh stands for the lease payment per kWh; bLP stands for the lease payment; cAEG stands for the annual electricity generation; dPC stands for the power capacity of third-party owned (TPO) solar PV system; eSIR_R stands for the savings-to-investment ratio of residence; fES stands for the electricity savings; gSIR_T stands for the savings-to-investment ratio of third-party company; hREP stands for the Renewable Energy Point; iCI stands for the cost of solar PV installation; jCR stands for the cost of replacement/repair; the exchange rate (KRW/USD) is 1,159 won to a U.S. dollar (as of Nov 9, 2015).

S11


Table S13The result for calculating the optimal lease payment by region when the minimum SIR_T is constraint to 1.0545

No

Solar lease payment Solar PV system Residence Third-party company

LPkWh

($)

Constraint Objective Constraint Objective Constraint Constraint Objectiv

e Constraint Impact factor Objective Impact

factorA B C D E F G H I J K L

F/G F-G (G+J)/(K+L)

(G+J)-(K+L)

Monthly LP ($)

AEG(kWh)

PC(kW) SIR_R Net Income

($) ES ($) LP ($) SIR_T Net Income ($)

REP income ($) CI ($) CR ($)

R1 0.07 0.89 34,498 29.7 2.361 21,722.08 37,682.33 15,960.25 1.056 2,979.79 40,198.38 49,951.91 3,226.94

R2 0.07 0.89 34,378 29.7 2.328 21,374.33 37,470.69 16,096.36 1.056 2,976.07 40,058.56 49,951.91 3,226.94

R3 0.08 0.94 33,656 29.7 2.150 19,408.85 36,292.26 16,883.41 1.054 2,920.68 39,216.11 49,951.91 3,226.94

R4 0.08 0.95 33,637 29.7 2.131 19,297.80 36,360.18 17,062.38 1.057 3,079.84 39,196.30 49,951.91 3,226.94

R5 0.08 0.99 32,958 29.7 2.015 18,083.06 35,902.24 17,819.18 1.057 3,043.14 38,402.80 49,951.91 3,226.94

R6 0.08 1.00 32,871 29.7 1.981 17,610.40 35,566.31 17,955.91 1.057 3,079.65 38,302.59 49,951.91 3,226.94

R7 0.08 1.00 32,855 29.7 2.000 17,949.75 35,895.82 17,946.07 1.057 3,048.85 38,281.62 49,951.91 3,226.94

R8 0.09 1.01 32,596 29.7 1.948 17,214.73 35,382.13 18,167.40 1.055 2,967.22 37,978.67 49,951.91 3,226.94

R9 0.09 1.07 31,826 29.7 1.814 15,602.01 34,760.48 19,158.47 1.057 3,063.42 37,083.79 49,951.91 3,226.94

R10 0.09 1.07 31,642 29.7 1.792 15,223.64 34,447.72 19,224.08 1.054 2,914.63 36,869.39 49,951.91 3,226.94

R11 0.10 1.11 31,116 29.7 1.700 13,964.17 33,909.29 19,945.12 1.056 3,022.77 36,256.49 49,951.91 3,226.94

R12 0.10 1.11 31,097 29.7 1.698 13,906.60 33,839.54 19,932.94 1.056 2,988.46 36,234.36 49,951.91 3,226.94

R13 0.10 1.11 31,074 29.7 1.705 14,042.21 33,961.05 19,918.84 1.055 2,948.72 36,208.72 49,951.91 3,226.94

R14 0.10 1.14 30,533 29.7 1.618 12,718.79 33,311.33 20,592.54 1.056 2,990.88 35,577.18 49,951.91 3,226.94

R15 0.11 1.19 29,926 29.7 1.543 11,593.57 32,944.35 21,350.78 1.057 3,041.84 34,869.90 49,951.91 3,226.94

Note: aLPkWh stands for the lease payment per kWh; bLP stands for the lease payment; cAEG stands for the annual electricity generation; dPC stands for the power capacity of third-party owned (TPO) solar PV system; eSIR_R stands for the savings-to-investment ratio of residence; fES stands for the electricity savings; gSIR_T stands for the savings-to-investment ratio of third-party company; hREP stands for the Renewable Energy Point; iCI stands for the cost of solar PV system installation; jCR stands for the cost of replacement/repair; the exchange rate (KRW/USD) is 1,159 won to a U.S. dollar (as of Nov 9, 2015)

S12


Table S14The result for calculating the optimal lease payment by the electricity consumption when the minimum SIR_R is constraint to 1.25

No

Housing Information Lease payment Solar PV system Residence Third-party company

Impactfactor

Impactfactor

Constraint

Objective

Constraint

Objective

Constraint

Constraint Objective Constrain

tImpact factor Objective Impact

factor

NoU

Monthly average

EC (kWh)

LPkWh

($)

A B C D E F G H I J K L

F/G F-G (F+I)/(J+K)

(G+J)-(K+L)

Monthly LP($)

AEG(kWh)

PC(kW) SIR_R

Net Income

($)ES ($) LP ($) SIR_T

Net Income

($)

REP income

($)CI ($) CR ($)

H1 176 255 0.099 1.58 33,637 29.7 1.250 5,393.89 26,956.24 21,562.35 1.143 7,579.81 39,196.30 49,951.9

13,226.9

4

H2 180 277 0.120 1.87 33,637 29.7 1.254 6,625.84 32,688.15 26,062.31 1.227 12,079.78 39,196.30 49,951.9

13,226.9

4

H3 181 338 0.149 2.31 33,637 29.7 1.251 8,129.65 40,566.92 32,437.27 1.347 18,454.73 39,196.30 49,951.9

13,226.9

4

H4 180 357 0.169 2.63 33,637 29.7 1.251 9,237.99 45,987.73 36,749.74 1.428 22,767.20 39,196.30 49,951.9

13,226.9

4

H5 174 427 0.242 3.91 33,637 29.7 1.252 13,279.65 65,966.78 52,687.13 1.728 38,704.59 39,196.30 49,951.9

13,226.9

4

H6 165 478 0.278 4.72 33,637 29.7 1.252 15,197.61 75,572.18 60,374.57 1.872 46,392.03 39,196.30 49,951.9

13,226.9

4Note: aNoU stands for the number of units; bEC stands for the electricity consumption; cLPkWh stands for the lease payment per kWh; dLP stands for the lease payment; eAEG stands for the annual electricity generation; fPC stands for the power capacity of third-party owned (TPO) solar PV system; gSIR_R stands for the savings-to-investment ratio of residence; hES stands for the electricity savings; iSIR_T stands for the savings-to-investment ratio of third-party company; jREP stands for the Renewable Energy Point; kCI stands for the cost of solar PV system installation; lCR stands for the cost of replacement/repair; the exchange rate (KRW/USD) is 1,159 won to a U.S. dollar (as of Nov 9, 2015).

S13


Table S15The result for calculating the optimal lease payment by the electricity consumption when the minimum SIR_T is constraint to 1.0545

No

Housing Information Lease payment Solar PV system Residence Third-party company

Impact

factor

Impactfactor

Constraint

Objective

Constraint

Objective

Constraint

Constraint

Objective

Constraint

Impact factor Objective Impact

factor

NoU

Monthly

average EC

(kWh)

LPkWh

($)

A B C D E F G H I J K L

F/G F-G (F+I)/(J+K)

(G+J)-(K+L)

Monthly LP($)

AEG(kWh)

PC(kW) SIR_R

Net Income

($)ES ($) LP ($) SIR_T

Net Income

($)

REP income

($)CI ($) CR ($)

H1 176 255 0.079 1.25 33,637 29.7 1.580 9,893.86 26,956.24 17,062.38 1.058 3,079.84 39,196.30 49,951.9

13,226.9

4

H2 180 277 0.079 1.22 33,637 29.7 1.916 15,625.77 32,688.15 17,062.38 1.058 3,079.84 39,196.30 49,951.9

13,226.9

4

H3 181 338 0.079 1.22 33,637 29.7 2.378 23,504.54 40,566.92 17,062.38 1.058 3,079.84 39,196.30 49,951.9

13,226.9

4

H4 180 357 0.079 1.22 33,637 29.7 2.695 28,925.35 45,987.73 17,062.38 1.058 3,079.84 39,196.30 49,951.9

13,226.9

4

H5 174 427 0.079 1.26 33,637 29.7 3.866 48,904.40 65,966.78 17,062.38 1.058 3,079.84 39,196.30 49,951.9

13,226.9

4

H6 165 478 0.079 1.33 33,637 29.7 4.429 58,509.80 75,572.18 17,062.38 1.058 3,079.84 39,196.30 49,951.9

13,226.9

4Note: aNoU stands for the number of units; bEC stands for the electricity consumption; cLPkWh stands for the lease payment per kWh; dLP stands for the lease payment; eAEG stands for the annual electricity generation; fPC stands for the power capacity of third-party owned (TPO) solar PV system; gSIR_R stands for the savings-to-investment ratio of residence; hES stands for the electricity savings; iSIR_T stands for the savings-to-investment ratio of third-party company; jREP stands for the Renewable Energy Point; kCI stands for the cost of solar PV system installation; lCR stands for the cost of replacement/repair; the exchange rate (KRW/USD) is 1,159 won to a U.S. dollar (as of Nov 9, 2015).

S14


Equations

Electricity bill calculation of single contract (S1)

The electricity bill of whole building ( A )=[ ( the sum of the electricity consumption in common areas and all units / the number of units )¿ ( high-voltaic charge ) ]×the number of units

The electricity bill of each unit=( A )×the electricity consumption of each unitthe electricity consumption of whole building

Electricity bill calculation of general contract (S2)

The electricity bill for the electricity consumption of each unit (B )=the electricity consumption of each unit × (low-voltaic charge )

The electricity bill of each unit for the electricity consumption in common areas (C )= [ the electricity consumption in common areas ×(general-voltaic charge ) ] / the number of units

The electricity bill of each unit=( B)+(C )

i=(1+in )(1+ f )

−1 (S3)

where i and in stand for the real discount rate and the nominal interest rate; and f stands the

growth rate of the inflation, electricity price, and carbon dioxide emission trading price.

S15


Z+= { Z Amax , ZB

max } (S4)

Z−= {Z Amin , ZB

min } (S5)

where Z+ stands for the maximum extreme point; Z- stands for the minimum extreme point;

ZAmax and ZB

max stands for the maximum value for the optimization objectives A and B,

respectively; and ZAmin and ZB

min stands for the minimum value for the optimization objectives

A and B, respectively.

SA=Z A−Z A

min

Z Amax−Z A

min (S6)

SB=Z B−ZB

min

ZBmax−Z B

min (S7)

where SA stands for the standardized value for the optimization objective A; and SB stands for

the standardized value for the optimization objective B.

wEd x , b=√∑i=1

n

wi×( x i−bi )2 , 0≺w i≺1 and∑

i=i

n

wi=1 (S8)

where wEdx,b stands for the weighted Euclidean distance between x and b; xi stands for the

value of the i-th measure; bi stands for the corresponding benchmark value (0 or 1) for the

value of xi; and wi stands for the weight value for the i-th measure.

S16

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