Work

Study on operation strategy of pumped storage power station under different development models: a case study of China

Year: 2024

Type: article

Abstract: Pumped storage, a flexible resource with mature technology, a good economy, and large-scale development, is an important part of the new power system. According to the different stages of the development of the power market, this paper puts forward the corresponding development models of pumped storage power stations, which are successively the “two-part price system” model, the “partial capacity fixed compensation” model, and the “completely independent market participation” model. Then put forward the corresponding business strategies of different development models, establish the economic benefit calculation model, and conduct the simulation. The simulation results show that the internal rate of return corresponding to the above three development models is 6.5%, 7.44%, and 8.23%, respectively. With the continuous improvement of market participation, the economic benefits of pumped storage power stations are also gradually improved, which promotes the cost recovery of pumped storage power stations. In addition, under the three development models, the three factors of capacity electricity price, capacity ratio covered by approved electricity price, and energy conversion efficiency also impact the economic benefits of pumped storage power stations.

Source: Clean Energy

DOI: 10.1093/ce/zkae071

Authors: Luyu Ma, Xiaowei Yu, Haiyan Zhai, Zhongfu Tan, Xuehui Wu

Institutions: Huazhong University of Science and Technology, State Grid Corporation of China (China), North China Electric Power University

Language: English

Topic: Electric Power System Optimization

Subfield: Electrical and Electronic Engineering

Field: Engineering

Domain: Physical Sciences

SDGs: Affordable and clean energy, Industry, innovation and infrastructure

Open Access status: diamond

Funder: State Grid Corporation of China