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Assessment of Future Whole-System Value of Large-Scale Pumped Storage Plants in Europe

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  • Fei Teng

    (Department of Electrical and Electronic Engineering, Imperial College London, London SW7 2AZ, UK)

  • Danny Pudjianto

    (Department of Electrical and Electronic Engineering, Imperial College London, London SW7 2AZ, UK)

  • Marko Aunedi

    (Department of Electrical and Electronic Engineering, Imperial College London, London SW7 2AZ, UK)

  • Goran Strbac

    (Department of Electrical and Electronic Engineering, Imperial College London, London SW7 2AZ, UK)

Abstract

This paper analyses the impacts and benefits of the pumped storage plant (PSP) and its upgrade to variable speed on generation and transmission capacity requirements, capital costs, system operating costs and carbon emissions in the future European electricity system. The combination of a deterministic system planning tool, Whole-electricity System Investment Model (WeSIM), and a stochastic system operation optimisation tool, Advanced Stochastic Unit Commitment (ASUC), is used to analyse the whole-system value of PSP technology and to quantify the impact of European balancing market integration and other competing flexible technologies on the value of the PSP. Case studies on the Pan-European system demonstrate that PSPs can reduce the total system cost by up to €13 billion per annum by 2050 in a scenario with a high share of renewables. Upgrading the PSP to variable-speed drive enhances its long-term benefits by 10–20%. On the other hand, balancing market integration across Europe may potentially reduce the overall value of the variable-speed PSP, although the effect can vary across different European regions. The results also suggest that large-scale deployment of demand-side response (DSR) leads to a significant reduction in the value of PSPs, while the value of PSPs increases by circa 18% when the total European interconnection capacity is halved. The benefit of PSPs in reducing emissions is relatively negligible by 2030 but constitutes around 6–10% of total annual carbon emissions from the European power sector by 2050.

Suggested Citation

  • Fei Teng & Danny Pudjianto & Marko Aunedi & Goran Strbac, 2018. "Assessment of Future Whole-System Value of Large-Scale Pumped Storage Plants in Europe," Energies, MDPI, vol. 11(1), pages 1-19, January.
    • Handle: RePEc:gam:jeners:v:11:y:2018:i:1:p:246-:d:127821
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    References listed on IDEAS

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    Cited by:

    1. Spyros Giannelos & Stefan Borozan & Marko Aunedi & Xi Zhang & Hossein Ameli & Danny Pudjianto & Ioannis Konstantelos & Goran Strbac, 2023. "Modelling Smart Grid Technologies in Optimisation Problems for Electricity Grids," Energies, MDPI, vol. 16(13), pages 1-15, June.
    2. Yanyue Wang & Guohua Fang & Zhenni Wang, 2022. "The Benefit Realization Mechanism of Pumped Storage Power Plants Based on Multi-Dimensional Regulation and Leader-Follower Decision-Making," Energies, MDPI, vol. 15(16), pages 1-15, August.
    3. Georgiou, Solomos & Aunedi, Marko & Strbac, Goran & Markides, Christos N., 2020. "On the value of liquid-air and pumped-thermal electricity storage systems in low-carbon electricity systems," Energy, Elsevier, vol. 193(C).
    4. Christos S. Ioakimidis & Konstantinos N. Genikomsakis, 2018. "Integration of Seawater Pumped-Storage in the Energy System of the Island of São Miguel (Azores)," Sustainability, MDPI, vol. 10(10), pages 1-14, September.
    5. Rodica Loisel & Corentin Simon, 2021. "Market strategies for large-scale energy storage: Vertical integration versus stand-alone player," Post-Print hal-04475995, HAL.
    6. Loisel, Rodica & Simon, Corentin, 2021. "Market strategies for large-scale energy storage: Vertical integration versus stand-alone player," Energy Policy, Elsevier, vol. 151(C).
    7. Aunedi, Marko & Yliruka, Maria & Dehghan, Shahab & Pantaleo, Antonio Marco & Shah, Nilay & Strbac, Goran, 2022. "Multi-model assessment of heat decarbonisation options in the UK using electricity and hydrogen," Renewable Energy, Elsevier, vol. 194(C), pages 1261-1276.

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