IDEAS home Printed from https://ideas.repec.org/a/eee/appene/v359y2024ics0306261924000151.html
   My bibliography  Save this article

Medium- and long-term operation optimization of the LCHES-WP hybrid power system considering the settlement rules of the electricity trading market

Author

Listed:
  • Zhang, Pengfei
  • Ma, Chao
  • Lian, Jijian
  • Li, Peiyao
  • Liu, Lu

Abstract

The medium- and long-term operation strategy of the hybrid power system needs to adapt to the continuous changes in the market. This paper presented a medium-term (monthly) operational simulation model and nested it into a long-term (yearly) optimization model. It was solved by the genetic algorithm (GA) to maximize yearly revenue. The planned delivered-electricity to power process constraints were present to improve the optimization efficiency. Using penalty price factor (α) and threshold of exempted punishment for the supply shortage δ to characterize the punishment for supply shortage risk. This framework was applied for a new hybrid power system so-called LCHES-WP (large-scale cascade hydropower energy storage system, wind power, PV power). It can participate in the electricity trading market with a bundled output pattern. The real cascade hydropower stations in Qinghai Province, China, are selected as the case study. In the baseline scenario, the current time of use (TOU) electricity price and punishment level (α = 0.05, δ = 5%) were considered. It reveals that (1) the revenue (baseline scenario, 6.15351 billion CNY) in the bundled output pattern is higher by 45.6% than in the separate output pattern. (2) the economic and technical indicators are sensitive to α, but not to δ. α increases make the punishment stricter, supply shortage risk was significantly reduced due to the probability of the shortage event, the maximum monthly supply shortage ratio and punishment electricity are reduced by up to 22.5 percentage points, 26.7 percentage points, and 1880.1 GWh, respectively. The yearly revenue is reduced by up to 4.7%. the reason is the yearly curtailment is increased and the penalty amount does not change dramatically with the changes in punishment. (3) The α = 0.6 and α = 1.8 can be regarded as demarcation point and upper boundary point for the case of hybrid power system, respectively. It is proposed that when planning a capacity scheme, stakeholders should consider that the demarcation point is higher than the current α. In general, this paper provides a reference for the medium- and long-term operation optimization of the LCHES-WP hybrid power system in the future.

Suggested Citation

  • Zhang, Pengfei & Ma, Chao & Lian, Jijian & Li, Peiyao & Liu, Lu, 2024. "Medium- and long-term operation optimization of the LCHES-WP hybrid power system considering the settlement rules of the electricity trading market," Applied Energy, Elsevier, vol. 359(C).
    • Handle: RePEc:eee:appene:v:359:y:2024:i:c:s0306261924000151
    DOI: 10.1016/j.apenergy.2024.122632
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0306261924000151
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.apenergy.2024.122632?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Shen, Jian-jian & Cheng, Chun-tian & Jia, Ze-bin & Zhang, Yang & Lv, Quan & Cai, Hua-xiang & Wang, Bang-can & Xie, Meng-fei, 2022. "Impacts, challenges and suggestions of the electricity market for hydro-dominated power systems in China," Renewable Energy, Elsevier, vol. 187(C), pages 743-759.
    2. Fatras, Nicolas & Ma, Zheng & Duan, Hongbo & Jørgensen, Bo Nørregaard, 2022. "A systematic review of electricity market liberalisation and its alignment with industrial consumer participation: A comparison between the Nordics and China," Renewable and Sustainable Energy Reviews, Elsevier, vol. 167(C).
    3. Ma, Chao & Liu, Lu, 2022. "Optimal capacity configuration of hydro-wind-PV hybrid system and its coordinative operation rules considering the UHV transmission and reservoir operation requirements," Renewable Energy, Elsevier, vol. 198(C), pages 637-653.
    4. Zhao, Ziwen & Yuan, Yichen & He, Mengjiao & Jurasz, Jakub & Wang, Jianan & Egusquiza, Mònica & Egusquiza, Eduard & Xu, Beibei & Chen, Diyi, 2022. "Stability and efficiency performance of pumped hydro energy storage system for higher flexibility," Renewable Energy, Elsevier, vol. 199(C), pages 1482-1494.
    5. Zhang, Juntao & Cheng, Chuntian & Yu, Shen & Shen, Jianjian & Wu, Xinyu & Su, Huaying, 2022. "Preliminary feasibility analysis for remaking the function of cascade hydropower stations to enhance hydropower flexibility: A case study in China," Energy, Elsevier, vol. 260(C).
    6. Petrollese, Mario & Seche, Pierluigi & Cocco, Daniele, 2019. "Analysis and optimization of solar-pumped hydro storage systems integrated in water supply networks," Energy, Elsevier, vol. 189(C).
    7. Park, Joungho & Hwan Ryu, Kyung & Kim, Chang-Hee & Chul Cho, Won & Kim, MinJoong & Hun Lee, Jae & Cho, Hyun-Seok & Lee, Jay H., 2023. "Green hydrogen to tackle the power curtailment: Meteorological data-based capacity factor and techno-economic analysis," Applied Energy, Elsevier, vol. 340(C).
    8. Park, Sung-Won & Cho, Kyu-Sang & Hoefter, Gregor & Son, Sung-Yong, 2022. "Electric vehicle charging management using location-based incentives for reducing renewable energy curtailment considering the distribution system," Applied Energy, Elsevier, vol. 305(C).
    9. McDonagh, Shane & Ahmed, Shorif & Desmond, Cian & Murphy, Jerry D, 2020. "Hydrogen from offshore wind: Investor perspective on the profitability of a hybrid system including for curtailment," Applied Energy, Elsevier, vol. 265(C).
    10. Steven Chu & Arun Majumdar, 2012. "Opportunities and challenges for a sustainable energy future," Nature, Nature, vol. 488(7411), pages 294-303, August.
    11. Deetjen, Thomas A. & Garrison, Jared B. & Rhodes, Joshua D. & Webber, Michael E., 2016. "Solar PV integration cost variation due to array orientation and geographic location in the Electric Reliability Council of Texas," Applied Energy, Elsevier, vol. 180(C), pages 607-616.
    12. Lin, Jiang & Kahrl, Fredrich & Yuan, Jiahai & Liu, Xu & Zhang, Weirong, 2019. "Challenges and strategies for electricity market transition in China," Energy Policy, Elsevier, vol. 133(C).
    13. Zhang, Yusheng & Ma, Chao & Yang, Yang & Pang, Xiulan & Liu, Lu & Lian, Jijian, 2021. "Study on short-term optimal operation of cascade hydro-photovoltaic hybrid systems," Applied Energy, Elsevier, vol. 291(C).
    14. Julian D. Hunt & Edward Byers & Yoshihide Wada & Simon Parkinson & David E. H. J. Gernaat & Simon Langan & Detlef P. Vuuren & Keywan Riahi, 2020. "Global resource potential of seasonal pumped hydropower storage for energy and water storage," Nature Communications, Nature, vol. 11(1), pages 1-8, December.
    15. Barbour, Edward & Wilson, I.A. Grant & Radcliffe, Jonathan & Ding, Yulong & Li, Yongliang, 2016. "A review of pumped hydro energy storage development in significant international electricity markets," Renewable and Sustainable Energy Reviews, Elsevier, vol. 61(C), pages 421-432.
    16. Zhang, Yusheng & Ma, Chao & Yang, Yang & Pang, Xiulan & Lian, Jijian & Wang, Xin, 2022. "Capacity configuration and economic evaluation of a power system integrating hydropower, solar, and wind," Energy, Elsevier, vol. 259(C).
    17. Ming, Bo & Liu, Pan & Guo, Shenglian & Zhang, Xiaoqi & Feng, Maoyuan & Wang, Xianxun, 2017. "Optimizing utility-scale photovoltaic power generation for integration into a hydropower reservoir by incorporating long- and short-term operational decisions," Applied Energy, Elsevier, vol. 204(C), pages 432-445.
    18. Szinai, Julia K. & Sheppard, Colin J.R. & Abhyankar, Nikit & Gopal, Anand R., 2020. "Reduced grid operating costs and renewable energy curtailment with electric vehicle charge management," Energy Policy, Elsevier, vol. 136(C).
    19. Jon Olauson & Mohd Nasir Ayob & Mikael Bergkvist & Nicole Carpman & Valeria Castellucci & Anders Goude & David Lingfors & Rafael Waters & Joakim Widén, 2016. "Net load variability in Nordic countries with a highly or fully renewable power system," Nature Energy, Nature, vol. 1(12), pages 1-8, December.
    20. Rubasinghe, Osaka & Zhang, Tingze & Zhang, Xinan & Choi, San Shing & Chau, Tat Kei & Chow, Yau & Fernando, Tyrone & Iu, Herbert Ho-Ching, 2023. "Highly accurate peak and valley prediction short-term net load forecasting approach based on decomposition for power systems with high PV penetration," Applied Energy, Elsevier, vol. 333(C).
    21. Ak, Mümtaz & Kentel, Elcin & Savasaneril, Secil, 2019. "Quantifying the revenue gain of operating a cascade hydropower plant system as a pumped-storage hydropower system," Renewable Energy, Elsevier, vol. 139(C), pages 739-752.
    22. Shabani, Masoume & Dahlquist, Erik & Wallin, Fredrik & Yan, Jinyue, 2020. "Techno-economic comparison of optimal design of renewable-battery storage and renewable micro pumped hydro storage power supply systems: A case study in Sweden," Applied Energy, Elsevier, vol. 279(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ma, Chao & Deng, Zexing & Xu, Ximeng & Pang, Xiulan & Li, Xiaofeng & Wu, Runze & Tian, Zhuojun, 2024. "Space optimization of utility-scale photovoltaic power plants considering the impact of inter-row shading," Applied Energy, Elsevier, vol. 370(C).
    2. Wang, Peng & Wang, Wentao & Jiang, Kai & Cheng, Yixin & Zhang, Tengxi & Li, Xuesong, 2025. "Modeling the coupling of China's multi-timescale electricity markets during the transition towards decarbonization and marketization," Energy, Elsevier, vol. 319(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Cheng, Qian & Liu, Pan & Xia, Qian & Cheng, Lei & Ming, Bo & Zhang, Wei & Xu, Weifeng & Zheng, Yalian & Han, Dongyang & Xia, Jun, 2023. "An analytical method to evaluate curtailment of hydro–photovoltaic hybrid energy systems and its implication under climate change," Energy, Elsevier, vol. 278(C).
    2. Tan, Qiaofeng & Nie, Zhuang & Wen, Xin & Su, Huaying & Fang, Guohua & Zhang, Ziyi, 2024. "Complementary scheduling rules for hybrid pumped storage hydropower-photovoltaic power system reconstructing from conventional cascade hydropower stations," Applied Energy, Elsevier, vol. 355(C).
    3. Jiang, Jianhua & Ming, Bo & Huang, Qiang & Guo, Yi & Shang, Jia’nan & Jurasz, Jakub & Liu, Pan, 2023. "A holistic techno-economic evaluation framework for sizing renewable power plant in a hydro-based hybrid generation system," Applied Energy, Elsevier, vol. 348(C).
    4. Cheng, Long & Ming, Bo & Cheng, Qiuyu & Jiang, Jianhua & Zhang, Hao & Jurasz, Jakub & Liu, Pan & Li, Meicheng, 2024. "Revealing electricity conversion mechanism of a cascade energy storage system," Energy, Elsevier, vol. 304(C).
    5. Zhang, Juntao & Cheng, Chuntian & Yu, Shen & Shen, Jianjian & Wu, Xinyu & Su, Huaying, 2022. "Preliminary feasibility analysis for remaking the function of cascade hydropower stations to enhance hydropower flexibility: A case study in China," Energy, Elsevier, vol. 260(C).
    6. Wang, Zhenni & Tan, Qiaofeng & Wen, Xin & Su, Huaying & Fang, Guohua & Wang, Hao, 2025. "Capacity optimization of retrofitting cascade hydropower plants with pumping stations for renewable energy integration: A case study," Applied Energy, Elsevier, vol. 377(PC).
    7. Cheng, Qian & Liu, Pan & Ming, Bo & Yang, Zhikai & Cheng, Lei & Liu, Zheyuan & Huang, Kangdi & Xu, Weifeng & Gong, Lanqiang, 2024. "Synchronizing short-, mid-, and long-term operations of hydro-wind-photovoltaic complementary systems," Energy, Elsevier, vol. 305(C).
    8. Zhou, Yanlai & Ning, Zhihao & Huang, Kangkang & Guo, Shenglian & Xu, Chong-Yu & Chang, Fi-John, 2025. "Sustainable energy integration: Enhancing the complementary operation of pumped-storage power and hydropower systems," Renewable and Sustainable Energy Reviews, Elsevier, vol. 210(C).
    9. Cheng, Qian & Liu, Pan & Feng, Maoyuan & Cheng, Lei & Ming, Bo & Luo, Xinran & Liu, Weibo & Xu, Weifeng & Huang, Kangdi & Xia, Jun, 2023. "Complementary operation with wind and photovoltaic power induces the decrease in hydropower efficiency," Applied Energy, Elsevier, vol. 339(C).
    10. Mahfoud, Rabea Jamil & Alkayem, Nizar Faisal & Zhang, Yuquan & Zheng, Yuan & Sun, Yonghui & Alhelou, Hassan Haes, 2023. "Optimal operation of pumped hydro storage-based energy systems: A compendium of current challenges and future perspectives," Renewable and Sustainable Energy Reviews, Elsevier, vol. 178(C).
    11. Lin, Mengke & Shen, Jianjian & Guo, Xihai & Ge, Linsong & Lü, Quan, 2025. "Comparison of pumping station and electrochemical energy storage enhancement mode for hydro-wind-photovoltaic hybrid systems," Energy, Elsevier, vol. 315(C).
    12. Zhao, Hongye & Liao, Shengli & Ma, Xiangyu & Fang, Zhou & Cheng, Chuntian & Zhang, Zheng, 2024. "Short-term peak-shaving scheduling of a hydropower-dominated hydro-wind-solar photovoltaic hybrid system considering a shared multienergy coupling transmission channel," Applied Energy, Elsevier, vol. 372(C).
    13. Zhang, Yusheng & Zhao, Xuehua & Wang, Xin & Li, Aiyun & Wu, Xinhao, 2023. "Multi-objective optimization design of a grid-connected hybrid hydro-photovoltaic system considering power transmission capacity," Energy, Elsevier, vol. 284(C).
    14. Chao Chen & Shan Huang & Yue Yin & Zifan Tang & Qiang Shuai, 2025. "Enhancing Pumped Hydro Storage Regulation Through Adaptive Initial Reservoir Capacity in Multistage Stochastic Coordinated Planning," Energies, MDPI, vol. 18(11), pages 1-21, May.
    15. Huo, Zhishuo & Zhang, Juntao & Cheng, Chuntian & Cao, Hui & Yang, Yuqi, 2025. "A synergistic model framework for identifying variable renewable energy integration capacity and deployment sites for hydro-wind-PV integrated energy bases," Energy, Elsevier, vol. 314(C).
    16. Tang, Haotian & Li, Rui & Song, Tongqing & Ju, Shenghong, 2025. "Short-term optimal scheduling and comprehensive assessment of hydro-photovoltaic-wind systems augmented with hybrid pumped storage hydropower plants and diversified energy storage configurations," Applied Energy, Elsevier, vol. 389(C).
    17. Liu, Lu & Ma, Chao & Gou, Haixing, 2025. "A comprehensive evaluation framework for sizing renewable power plants in a hybrid power system considering UHV transmission and thermal ultra supercritical unit operating performance," Energy, Elsevier, vol. 315(C).
    18. Guo, Yi & Ming, Bo & Huang, Qiang & Liu, Pan & Wang, Yimin & Fang, Wei & Zhang, Wei, 2022. "Evaluating effects of battery storage on day-ahead generation scheduling of large hydro–wind–photovoltaic complementary systems," Applied Energy, Elsevier, vol. 324(C).
    19. Vivar, M. & H, Sharon & Fuentes, M., 2024. "Photovoltaic system adoption in water related technologies – A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 189(PB).
    20. Cheng, Xiaobin & Liu, Pengfei & Zhu, Lei, 2024. "The impact of electricity market reform on renewable energy production," Energy Policy, Elsevier, vol. 194(C).

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:appene:v:359:y:2024:i:c:s0306261924000151. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/405891/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.