Huijue pumped storage technology profit analysis

Can probabilistic production simulation improve cost-benefit analysis of pumped hydro storage?

This study presents an improved probabilistic production simulation method to facilitate the cost–benefit analysis of pumped hydro storage. To capture the coherent feature of power system operation, the traditional form of probabilistic production simulation is strengthened under a three-fold computational framework.

How can pumped hydro storage cost-benefits be quantified?

Then, the regular steps of probabilistic production simulation are performed to derive the operating cost and reliability metrics of power system. Hence, the cost-benefits of pumped hydro storage can be quantitatively assessed through two single runs of simulation with and without storage facilities.

Can pumped hydro energy storage reduce energy dependence?

To assess the proposed model, it is applied to a Spanish case study system, and the results are obtained for an entire year. The combination of renewable energy and pumped hydro energy storage reduces energy dependence by decreasing energy costs by 27 % compared with a system without storage to satisfy the required electricity demand.

Can pumped hydroelectric energy storage maximize the use of wind power?

Katsaprakakis et al. studied the feasibility of maximizing the use of wind power in combination with existing autonomous thermal power plants and wind farms by adding pumped hydroelectric energy storage in the system for the isolated power systems of the islands Karpathos and Kasos located in the South-East Aegean Sea.

What is pumped hydro energy storage?

The pumped hydro energy storage (PHES) is a well-established and commercially-acceptable technology for utility-scale electricity storage and has been used since as early as the 1890s.

How many pumped hydro storage units are there?

There is a pumped hydro storage station with 2 units, a 500 MW wind farm, and a 300 MW solar power station in the test system. The major parameters of pumped hydro storage station and storage units are presented in Tables 1 and 2. The test system also includes 26 thermal units and 6 hydro-power units, whose parameters can be found in [ 14 ].