IDEAS home Printed from https://ideas.repec.org/a/eee/energy/v141y2017icp368-379.html
   My bibliography  Save this article

An analysis of different pumped storage schemes from a technological and economic perspective

Author

Listed:
  • Ruppert, Leopold
  • Schürhuber, Robert
  • List, Bernhard
  • Lechner, Alois
  • Bauer, Christian

Abstract

Installed wind and solar power has widely increased in the last decade and is assumed to continue to do so in the future. The increasing solar power reduces the span between peak and base price and permits an economic feasibility of storage applications. The target of this work is to maximize the earnings of pumped storage plants (PSPs) considering the Austrian-German spot market and Austrian balancing energy market within the years 2012–2015. As common PSP schemes, binary and ternary configurations are considered as well as fixed and variable speed schemes. Operating ranges and efficiency values depend on water way losses, pump/turbine characteristics, electric losses and gross-head dependent plant losses. Finally, an optimization algorithm is presented, including the market and plant models, where the objective function is the earning in each scenario such that the model can be used to determine the best operation strategy among the markets. It is found that earnings from the balancing energy market exceed earnings from the spot market over and that the high price volatility has a significantly higher influence on earnings than the relatively small efficiency variations. The plant parameter having the most influence on the earnings is the available operating range.

Suggested Citation

  • Ruppert, Leopold & Schürhuber, Robert & List, Bernhard & Lechner, Alois & Bauer, Christian, 2017. "An analysis of different pumped storage schemes from a technological and economic perspective," Energy, Elsevier, vol. 141(C), pages 368-379.
    • Handle: RePEc:eee:energy:v:141:y:2017:i:c:p:368-379
    DOI: 10.1016/j.energy.2017.09.057
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0360544217315827
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.energy.2017.09.057?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 search for a different version of it.

    References listed on IDEAS

    as
    1. Bueno, C. & Carta, J.A., 2006. "Wind powered pumped hydro storage systems, a means of increasing the penetration of renewable energy in the Canary Islands," Renewable and Sustainable Energy Reviews, Elsevier, vol. 10(4), pages 312-340, August.
    2. Zamani-Dehkordi, Payam & Shafiee, Soroush & Rakai, Logan & Knight, Andrew M. & Zareipour, Hamidreza, 2017. "Price impact assessment for large-scale merchant energy storage facilities," Energy, Elsevier, vol. 125(C), pages 27-43.
    3. Vögelin, Philipp & Koch, Ben & Georges, Gil & Boulouchos, Konstatinos, 2017. "Heuristic approach for the economic optimisation of combined heat and power (CHP) plants: Operating strategy, heat storage and power," Energy, Elsevier, vol. 121(C), pages 66-77.
    4. Gallo, A.B. & Simões-Moreira, J.R. & Costa, H.K.M. & Santos, M.M. & Moutinho dos Santos, E., 2016. "Energy storage in the energy transition context: A technology review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 65(C), pages 800-822.
    5. Connolly, D. & Lund, H. & Mathiesen, B.V. & Pican, E. & Leahy, M., 2012. "The technical and economic implications of integrating fluctuating renewable energy using energy storage," Renewable Energy, Elsevier, vol. 43(C), pages 47-60.
    6. de Boer, Harmen Sytze & Grond, Lukas & Moll, Henk & Benders, René, 2014. "The application of power-to-gas, pumped hydro storage and compressed air energy storage in an electricity system at different wind power penetration levels," Energy, Elsevier, vol. 72(C), pages 360-370.
    7. Anagnostopoulos, John S. & Papantonis, Dimitris E., 2012. "Study of pumped storage schemes to support high RES penetration in the electric power system of Greece," Energy, Elsevier, vol. 45(1), pages 416-423.
    8. Chatzivasileiadi, Aikaterini & Ampatzi, Eleni & Knight, Ian, 2013. "Characteristics of electrical energy storage technologies and their applications in buildings," Renewable and Sustainable Energy Reviews, Elsevier, vol. 25(C), pages 814-830.
    9. Luo, Xing & Wang, Jihong & Dooner, Mark & Clarke, Jonathan, 2015. "Overview of current development in electrical energy storage technologies and the application potential in power system operation," Applied Energy, Elsevier, vol. 137(C), pages 511-536.
    10. Lu, Bin & Blakers, Andrew & Stocks, Matthew, 2017. "90–100% renewable electricity for the South West Interconnected System of Western Australia," Energy, Elsevier, vol. 122(C), pages 663-674.
    11. Locatelli, Giorgio & Palerma, Emanuele & Mancini, Mauro, 2015. "Assessing the economics of large Energy Storage Plants with an optimisation methodology," Energy, Elsevier, vol. 83(C), pages 15-28.
    12. Connolly, D. & Lund, H. & Finn, P. & Mathiesen, B.V. & Leahy, M., 2011. "Practical operation strategies for pumped hydroelectric energy storage (PHES) utilising electricity price arbitrage," Energy Policy, Elsevier, vol. 39(7), pages 4189-4196, July.
    13. McConnell, Dylan & Forcey, Tim & Sandiford, Mike, 2015. "Estimating the value of electricity storage in an energy-only wholesale market," Applied Energy, Elsevier, vol. 159(C), pages 422-432.
    14. Sioshansi, Ramteen & Denholm, Paul & Jenkin, Thomas & Weiss, Jurgen, 2009. "Estimating the value of electricity storage in PJM: Arbitrage and some welfare effects," Energy Economics, Elsevier, vol. 31(2), pages 269-277, March.
    15. Sioshansi, Ramteen & Denholm, Paul & Jenkin, Thomas, 2011. "A comparative analysis of the value of pure and hybrid electricity storage," Energy Economics, Elsevier, vol. 33(1), pages 56-66, January.
    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. Hu, Jinhong & Yang, Jiebin & He, Xianghui & Zhao, Zhigao & Yang, Jiandong, 2023. "Transient analysis of a hydropower plant with a super-long headrace tunnel during load acceptance: Instability mechanism and measurement verification," Energy, Elsevier, vol. 263(PA).
    2. Hu, Jinhong & Zhao, Zhigao & He, Xianghui & Zeng, Wei & Yang, Jiebin & Yang, Jiandong, 2023. "Design techniques for improving energy performance and S-shaped characteristics of a pump-turbine with splitter blades," Renewable Energy, Elsevier, vol. 212(C), pages 333-349.
    3. Hong, Ying-Yi & Apolinario, Gerard Francesco DG. & Chung, Chen-Nien & Lu, Tai-Ken & Chu, Chia-Chi, 2020. "Effect of Taiwan's energy policy on unit commitment in 2025," Applied Energy, Elsevier, vol. 277(C).
    4. Alvarez, Gonzalo E., 2020. "Operation of pumped storage hydropower plants through optimization for power systems," Energy, Elsevier, vol. 202(C).
    5. Hu, Jinhong & Yang, Jiebin & He, Xianghui & Zeng, Wei & Zhao, Zhigao & Yang, Jiandong, 2023. "Transition of amplitude–frequency characteristic in rotor–stator interaction of a pump-turbine with splitter blades," Renewable Energy, Elsevier, vol. 205(C), pages 663-677.
    6. Fan, Jinyang & Xie, Heping & Chen, Jie & Jiang, Deyi & Li, Cunbao & Ngaha Tiedeu, William & Ambre, Julien, 2020. "Preliminary feasibility analysis of a hybrid pumped-hydro energy storage system using abandoned coal mine goafs," Applied Energy, Elsevier, vol. 258(C).
    7. Hu, Jinhong & Yang, Jiebin & Zeng, Wei & Zhao, Zhigao & Yang, Jiandong, 2021. "Hydraulic interaction of two parallel pump-turbines in constant-speed oscillation: Measurement, simulation, and sensitivity analysis," Renewable Energy, Elsevier, vol. 176(C), pages 269-279.
    8. 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).
    9. Zhou, Xing & Wu, Hegao & Cheng, Li & Huang, Quanshui & Shi, Changzheng, 2023. "A new draft tube shape optimisation methodology of introducing inclined conical diffuser in hydraulic turbine," Energy, Elsevier, vol. 265(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. Blanco, Herib & Faaij, André, 2018. "A review at the role of storage in energy systems with a focus on Power to Gas and long-term storage," Renewable and Sustainable Energy Reviews, Elsevier, vol. 81(P1), pages 1049-1086.
    2. Guittet, Mélanie & Capezzali, Massimiliano & Gaudard, Ludovic & Romerio, Franco & Vuille, François & Avellan, François, 2016. "Study of the drivers and asset management of pumped-storage power plants historical and geographical perspective," Energy, Elsevier, vol. 111(C), pages 560-579.
    3. Antweiler, Werner, 2021. "Microeconomic models of electricity storage: Price Forecasting, arbitrage limits, curtailment insurance, and transmission line utilization," Energy Economics, Elsevier, vol. 101(C).
    4. Zakeri, Behnam & Syri, Sanna, 2015. "Electrical energy storage systems: A comparative life cycle cost analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 42(C), pages 569-596.
    5. Javed, Muhammad Shahzad & Ma, Tao & Jurasz, Jakub & Amin, Muhammad Yasir, 2020. "Solar and wind power generation systems with pumped hydro storage: Review and future perspectives," Renewable Energy, Elsevier, vol. 148(C), pages 176-192.
    6. Emmanouil, Stergios & Nikolopoulos, Efthymios I. & François, Baptiste & Brown, Casey & Anagnostou, Emmanouil N., 2021. "Evaluating existing water supply reservoirs as small-scale pumped hydroelectric storage options – A case study in Connecticut," Energy, Elsevier, vol. 226(C).
    7. Goteti, Naga Srujana & Hittinger, Eric & Sergi, Brian & Lima Azevedo, Inês, 2021. "How does new energy storage affect the operation and revenue of existing generation?," Applied Energy, Elsevier, vol. 285(C).
    8. Rehman, Shafiqur & Al-Hadhrami, Luai M. & Alam, Md. Mahbub, 2015. "Pumped hydro energy storage system: A technological review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 44(C), pages 586-598.
    9. Berrada, Asmae & Loudiyi, Khalid, 2016. "Operation, sizing, and economic evaluation of storage for solar and wind power plants," Renewable and Sustainable Energy Reviews, Elsevier, vol. 59(C), pages 1117-1129.
    10. Pérez-Díaz, Juan I. & Jiménez, Javier, 2016. "Contribution of a pumped-storage hydropower plant to reduce the scheduling costs of an isolated power system with high wind power penetration," Energy, Elsevier, vol. 109(C), pages 92-104.
    11. Mauricio B. C. Salles & Junling Huang & Michael J. Aziz & William W. Hogan, 2017. "Potential Arbitrage Revenue of Energy Storage Systems in PJM," Energies, MDPI, vol. 10(8), pages 1-19, July.
    12. Ardizzon, G. & Cavazzini, G. & Pavesi, G., 2014. "A new generation of small hydro and pumped-hydro power plants: Advances and future challenges," Renewable and Sustainable Energy Reviews, Elsevier, vol. 31(C), pages 746-761.
    13. Guelpa, Elisa & Bischi, Aldo & Verda, Vittorio & Chertkov, Michael & Lund, Henrik, 2019. "Towards future infrastructures for sustainable multi-energy systems: A review," Energy, Elsevier, vol. 184(C), pages 2-21.
    14. Chen, Yang & Odukomaiya, Adewale & Kassaee, Saiid & O’Connor, Patrick & Momen, Ayyoub M. & Liu, Xiaobing & Smith, Brennan T., 2019. "Preliminary analysis of market potential for a hydropneumatic ground-level integrated diverse energy storage system," Applied Energy, Elsevier, vol. 242(C), pages 1237-1247.
    15. de Sisternes, Fernando J. & Jenkins, Jesse D. & Botterud, Audun, 2016. "The value of energy storage in decarbonizing the electricity sector," Applied Energy, Elsevier, vol. 175(C), pages 368-379.
    16. Weitzel, Timm & Glock, Christoph H., 2018. "Energy management for stationary electric energy storage systems: A systematic literature review," European Journal of Operational Research, Elsevier, vol. 264(2), pages 582-606.
    17. Ahmed G. Abo-Khalil & Mohammad Alobaid, 2023. "A Guide to the Integration and Utilization of Energy Storage Systems with a Focus on Demand Resource Management and Power Quality Enhancement," Sustainability, MDPI, vol. 15(20), pages 1-19, October.
    18. Loisel, Rodica & Simon, Corentin, 2021. "Market strategies for large-scale energy storage: Vertical integration versus stand-alone player," Energy Policy, Elsevier, vol. 151(C).
    19. Martin, Nigel & Rice, John, 2021. "Power outages, climate events and renewable energy: Reviewing energy storage policy and regulatory options for Australia," Renewable and Sustainable Energy Reviews, Elsevier, vol. 137(C).
    20. Berrada, Asmae & Loudiyi, Khalid & Zorkani, Izeddine, 2016. "Valuation of energy storage in energy and regulation markets," Energy, Elsevier, vol. 115(P1), pages 1109-1118.

    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:energy:v:141:y:2017:i:c:p:368-379. 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.journals.elsevier.com/energy .

    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.