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Short-term scheduling of a hybrid pumped storage-photovoltaic power complementary system considering market-oriented electricity prices

Author

Listed:
  • Tan, Qiaofeng
  • Qiao, Liang
  • Wen, Xin
  • Wang, Zhenni

Abstract

Hybrid pumped-storage systems offer critical grid flexibility for renewable integration, yet their profitability under electricity market uncertainties remains insufficiently explored. We propose an integrated decision-analytic framework addressing three key limitations in current research: (1) lack of data integration methods for immature electricity markets, resolved through spectral correlation analysis of multi-source price signals; (2) unidirectional risk assessment approaches ignoring two different states of hybrid pumped-storage stations, overcome by bidirectional CVaR modeling; (3) computational intractability in high-dimensional hydraulic-market optimization, addressed via an enhanced successive approximation dynamic programming algorithm. Applied to a study case in China, our analysis reveals: (1) adding a pumping station to the system provides the operator with more market leverage, magnifying both the system's revenue and its fluctuation; (2) beyond its arbitrage function, the pumping station enhances the flexibility of hydropower and reduces curtailment, although minor curtailment can push the station into an inefficient operating zone; and (3) as operators become more risk-averse, they adopt more conservative strategies, which reduces overall revenue but improves revenue stability.

Suggested Citation

  • Tan, Qiaofeng & Qiao, Liang & Wen, Xin & Wang, Zhenni, 2025. "Short-term scheduling of a hybrid pumped storage-photovoltaic power complementary system considering market-oriented electricity prices," Energy, Elsevier, vol. 329(C).
    • Handle: RePEc:eee:energy:v:329:y:2025:i:c:s0360544225023291
    DOI: 10.1016/j.energy.2025.136687
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    1. Lu, Yike & Guo, Aijun & Chang, Jianxia & Wang, Yimin & Wang, Xuebin & Niu, Chen & Zhang, Shikai & Xie, Zhengyi & Wang, Jiayang, 2025. "Enhancing the economic benefits of cascade hydropower stations through integrated utilization of electricity and capacity benefits," Energy, Elsevier, vol. 340(C).
    2. Xie, Zhengyi & Wang, Yimin & Chang, Jianxia & Guo, Aijun & Huo, Chao & Dong, Xuetao & Wang, Zhen & Niu, Chen & Zheng, Yongheng, 2025. "Operation modes of multi-operator hybrid pumped storage hydropower system with bidirectional hydraulic coupling," Energy, Elsevier, vol. 340(C).

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