IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v14y2022i15p9128-d871316.html
   My bibliography  Save this article

Joint Operation Modes and Economic Analysis of Nuclear Power and Pumped Storage Plants under Different Power Market Environments

Author

Listed:
  • Yanyue Wang

    (College of Electric Power, North China University of Water Resources and Electric Power, Zhengzhou 450045, China)

  • Guohua Fang

    (College of Water Conservancy and Hydropower Engineering, Hohai University, Nanjing 210098, China)

Abstract

Given the continuous promotion of power market reforms, the joint operation modes and economic analysis of nuclear power and pumped storage hydropower under different market mechanisms are the key to ensuring the low-carbon and economic operation of the power system. First, this study constructed the power expansion optimization model and put forward the allocation ratio by combining the operation characteristics of nuclear power and pumped storage. Second, a simulation model for the joint operation was established to optimize their operation modes. Finally, the joint operation modes and a method for calculating profitability under different power market mechanisms were proposed. A case study in the FJ power grid reveals that the joint operation of nuclear power and pumped storage can increase the annual utilization hours of nuclear power by 1000 h, reduce the operation cost of pumped storage, and increase the market competitiveness of the system. With the improvement in the power market, the joint financial internal rate of return of the system would increase gradually to 11.40% in the long-term mature market. This indicates that the power market reforms would ensure the profitability of the joint operation of nuclear power and pumped storage.

Suggested Citation

  • Yanyue Wang & Guohua Fang, 2022. "Joint Operation Modes and Economic Analysis of Nuclear Power and Pumped Storage Plants under Different Power Market Environments," Sustainability, MDPI, vol. 14(15), pages 1-17, July.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:15:p:9128-:d:871316
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/14/15/9128/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/14/15/9128/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Wang, Zhenni & Wen, Xin & Tan, Qiaofeng & Fang, Guohua & Lei, Xiaohui & Wang, Hao & Yan, Jinyue, 2021. "Potential assessment of large-scale hydro-photovoltaic-wind hybrid systems on a global scale," Renewable and Sustainable Energy Reviews, Elsevier, vol. 146(C).
    2. Makhdoomi, Sina & Askarzadeh, Alireza, 2020. "Daily performance optimization of a grid-connected hybrid system composed of photovoltaic and pumped hydro storage (PV/PHS)," Renewable Energy, Elsevier, vol. 159(C), pages 272-285.
    3. Peng Wang & Chunsheng Wang & Yukun Hu & Liz Varga & Wei Wang, 2018. "Power Generation Expansion Optimization Model Considering Multi-Scenario Electricity Demand Constraints: A Case Study of Zhejiang Province, China," Energies, MDPI, vol. 11(6), pages 1-15, June.
    4. 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.
    5. Lu, Bin & Blakers, Andrew & Stocks, Matthew & Do, Thang Nam, 2021. "Low-cost, low-emission 100% renewable electricity in Southeast Asia supported by pumped hydro storage," Energy, Elsevier, vol. 236(C).
    6. Woo-Jung Kim & Yu-Seok Lee & Yeong-Han Chun & Hae-Seong Jeong, 2022. "Reserve-Constrained Unit Commitment Considering Adjustable-Speed Pumped-Storage Hydropower and Its Economic Effect in Korean Power System," Energies, MDPI, vol. 15(7), pages 1-23, March.
    7. Ghasemi, Ahmad & Enayatzare, Mehdi, 2018. "Optimal energy management of a renewable-based isolated microgrid with pumped-storage unit and demand response," Renewable Energy, Elsevier, vol. 123(C), pages 460-474.
    8. Dunguo Mou, 2018. "Wind Power Development and Energy Storage under China’s Electricity Market Reform—A Case Study of Fujian Province," Sustainability, MDPI, vol. 10(2), pages 1-20, 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. Yuanmei Zhang & Wenfang Yu & Yi Lei & Haibo Li & Keteng Jiang & Weiguo Hu & Yu Lu & Han Li, 2022. "Cost Diversion Strategies for Pumped-Storage Tariffs for New Power Systems," Sustainability, MDPI, vol. 15(1), pages 1-12, December.
    2. Małgorzata Jastrzębska, 2022. "Installation’s Conception in the Field of Renewable Energy Sources for the Needs of the Silesian Botanical Garden," Energies, MDPI, vol. 15(18), pages 1-28, September.

    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. 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).
    2. 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).
    3. 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).
    4. Skroufouta, S. & Baltas, E., 2021. "Investigation of hybrid renewable energy system (HRES) for covering energy and water needs on the Island of Karpathos in Aegean Sea," Renewable Energy, Elsevier, vol. 173(C), pages 141-150.
    5. Manish Kumar Singla & Jyoti Gupta & Mohammed H. Alsharif & Abu Jahid, 2023. "Optimizing Integration of Fuel Cell Technology in Renewable Energy-Based Microgrids for Sustainable and Cost-Effective Energy," Energies, MDPI, vol. 16(11), pages 1-18, June.
    6. Guangyi Wu & Xiangxin Shao & Hong Jiang & Shaoxin Chen & Yibing Zhou & Hongyang Xu, 2020. "Control Strategy of the Pumped Storage Unit to Deal with the Fluctuation of Wind and Photovoltaic Power in Microgrid," Energies, MDPI, vol. 13(2), pages 1-23, January.
    7. Livia Pitorac & Kaspar Vereide & Leif Lia, 2020. "Technical Review of Existing Norwegian Pumped Storage Plants," Energies, MDPI, vol. 13(18), pages 1-20, September.
    8. 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).
    9. Wu, C.B. & Guan, P.B. & Zhong, L.N. & Lv, J. & Hu, X.F. & Huang, G.H. & Li, C.C., 2020. "An optimized low-carbon production planning model for power industry in coal-dependent regions - A case study of Shandong, China," Energy, Elsevier, vol. 192(C).
    10. Xiangyu Kong & Jingtao Yao & Zhijun E & Xin Wang, 2019. "Generation Expansion Planning Based on Dynamic Bayesian Network Considering the Uncertainty of Renewable Energy Resources," Energies, MDPI, vol. 12(13), pages 1-20, June.
    11. Liu, Yi & Zhang, Jian & Liu, Zhe & Chen, Long & Yu, Xiaodong, 2022. "Surge wave characteristics for hydropower plant with upstream double surge tanks connected in series under small load disturbance," Renewable Energy, Elsevier, vol. 186(C), pages 667-676.
    12. Kocaman, Ayse Selin & Ozyoruk, Emin & Taneja, Shantanu & Modi, Vijay, 2020. "A stochastic framework to evaluate the impact of agricultural load flexibility on the sizing of renewable energy systems," Renewable Energy, Elsevier, vol. 152(C), pages 1067-1078.
    13. Mohseni, Soheil & Brent, Alan C. & Kelly, Scott & Browne, Will N., 2022. "Demand response-integrated investment and operational planning of renewable and sustainable energy systems considering forecast uncertainties: A systematic review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 158(C).
    14. Hao Zhang & Jingyue Yang & Chenxi Li & Pengcheng Guo & Jun Liu & Ruibao Jin & Jing Hu & Fengyuan Gan & Fei Cao, 2024. "Reasonable Energy-Abandonment Operation of a Combined Power Generation System with an Ultra-High Proportion of Renewable Energy," Energies, MDPI, vol. 17(8), pages 1-18, April.
    15. Pradhan, Anish & Marence, Miroslav & Franca, Mário J., 2021. "The adoption of Seawater Pump Storage Hydropower Systems increases the share of renewable energy production in Small Island Developing States," Renewable Energy, Elsevier, vol. 177(C), pages 448-460.
    16. Seshu Kumar, R. & Phani Raghav, L. & Koteswara Raju, D. & Singh, Arvind R., 2021. "Impact of multiple demand side management programs on the optimal operation of grid-connected microgrids," Applied Energy, Elsevier, vol. 301(C).
    17. Sánchez-Pérez, P.A. & Staadecker, Martin & Szinai, Julia & Kurtz, Sarah & Hidalgo-Gonzalez, Patricia, 2022. "Effect of modeled time horizon on quantifying the need for long-duration storage," Applied Energy, Elsevier, vol. 317(C).
    18. Fan, Jing-Li & Huang, Xi & Shi, Jie & Li, Kai & Cai, Jingwen & Zhang, Xian, 2023. "Complementary potential of wind-solar-hydro power in Chinese provinces: Based on a high temporal resolution multi-objective optimization model," Renewable and Sustainable Energy Reviews, Elsevier, vol. 184(C).
    19. Michas, Serafeim & Flamos, Alexandros, 2023. "Are there preferable capacity combinations of renewables and storage? Exploratory quantifications along various technology deployment pathways," Energy Policy, Elsevier, vol. 174(C).
    20. Vasudevan, Krishnakumar R. & Ramachandaramurthy, Vigna K. & Venugopal, Gomathi & Ekanayake, J.B. & Tiong, S.K., 2021. "Variable speed pumped hydro storage: A review of converters, controls and energy management strategies," Renewable and Sustainable Energy Reviews, Elsevier, vol. 135(C).

    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:gam:jsusta:v:14:y:2022:i:15:p:9128-:d:871316. 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: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    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.