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Pumped Hydroelectric Energy Storage as a Facilitator of Renewable Energy in Liberalized Electricity Market

Author

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  • Lazar Šćekić

    (Faculty of Electrical Engineering, University of Montenegro, 81000 Podgorica, Montenegro)

  • Saša Mujović

    (Faculty of Electrical Engineering, University of Montenegro, 81000 Podgorica, Montenegro)

  • Vladan Radulović

    (Faculty of Electrical Engineering, University of Montenegro, 81000 Podgorica, Montenegro)

Abstract

Besides many benefits deriving from the energy transition process, it is not uncommon for modern power systems to be faced with difficulties in their operation. The issues are dominantly related to the non-dispatchable nature of renewable energy sources (RES) and the mismatching between electricity generation and load demand. As a consequence of a constant peak load growth, this problem is particularly pronounced during the daily peak hours. Therefore, it is of great importance to conduct all necessary activities within the system in order to preserve the system stability and continuity of operation. Energy storage systems have been recognized as a major facilitator of renewable energy, by providing additional operational flexibility. Since pumped hydroelectric energy storage (PHES) accounts for almost 97% of the world’s storage capacity, in this paper, we have investigated the benefits of using pumped-storage hydropower in modern power systems characterized by high penetration of RES and the liberalized electricity market. A novel operation algorithm has been developed which finds the balance between providing additional flexibility by alleviating the peak load and obtaining financial revenue to justify the high investment costs associated with PHES. The algorithm has been tested for the daily and monthly operation of the Tonstad PHES in the dynamic environment of the Norwegian power system.

Suggested Citation

  • Lazar Šćekić & Saša Mujović & Vladan Radulović, 2020. "Pumped Hydroelectric Energy Storage as a Facilitator of Renewable Energy in Liberalized Electricity Market," Energies, MDPI, vol. 13(22), pages 1-18, November.
    • Handle: RePEc:gam:jeners:v:13:y:2020:i:22:p:6076-:d:448330
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    1. Yudong Tan & Guosheng Xie & Yunhao Xiao & Yi Luo & Xintao Xie & Ming Wen, 2022. "Comprehensive Benefit Evaluation of Hybrid Pumped-Storage Power Stations Based on Improved Rank Correlation-Entropy Weight Method," Energies, MDPI, vol. 15(22), pages 1-17, November.
    2. Domfeh, M. K. & Diawuo, F. A. & Akpoti, Komlavi & Antwi, E. O. & Kabo-bah, A. T., 2023. "Lessons for pumped hydro energy storage systems uptake," Book Chapters,, International Water Management Institute.
    3. Papadakis C. Nikolaos & Fafalakis Marios & Katsaprakakis Dimitris, 2023. "A Review of Pumped Hydro Storage Systems," Energies, MDPI, vol. 16(11), pages 1-39, June.
    4. Siavash Asiaban & Nezmin Kayedpour & Arash E. Samani & Dimitar Bozalakov & Jeroen D. M. De Kooning & Guillaume Crevecoeur & Lieven Vandevelde, 2021. "Wind and Solar Intermittency and the Associated Integration Challenges: A Comprehensive Review Including the Status in the Belgian Power System," Energies, MDPI, vol. 14(9), pages 1-41, May.

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