Short-term assessment of pumped hydro energy storage configurations: Up, down, or closed?

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buir.contributor.authorToufani, Parinaz
buir.contributor.authorNadar, Emre
buir.contributor.authorKocaman, Ayşe Selin
buir.contributor.orcidToufani, Parinaz|0000-0003-4632-9226
buir.contributor.orcidNadar, Emre|0000-0002-9904-4243
buir.contributor.orcidKocaman, Ayşe Selin|0000-0001-8345-5999
dc.citation.epage1095en_US
dc.citation.spage1086en_US
dc.citation.volumeNumber202 Part 1en_US
dc.contributor.authorToufani, Parinaz
dc.contributor.authorNadar, Emre
dc.contributor.authorKocaman, Ayşe Selin
dc.date.accessioned2023-02-15T11:24:08Z
dc.date.available2023-02-15T11:24:08Z
dc.date.issued2022-11-09
dc.departmentDepartment of Industrial Engineeringen_US
dc.description.abstractWe study the energy generation and storage problem for various types of two-reservoir pumped hydro energy storage facilities: open-loop facilities with the upper or lower reservoir fed by a natural inflow and closed-loop facilities. We formulate this problem as a stochastic dynamic program under uncertainty in the streamflow rate and electricity price. We include the streamflow rate and electricity price as exogenous state variables in our formulation. We compare the short-term total cash flows obtained by running different pumped hydro energy storage configurations in a market setting where the electricity price can be negative. We first derive theoretical bounds on the revenue gains and losses from switching from one configuration to another. We then conduct numerical experiments by employing time-series models to formulate the evolution of our exogenous state variables. We consider three distinct seasons with different streamflow rates, different negative price occurrence frequencies, and different reservoir capacities. Our results show that: (1) The open-loop facility with the upstream flow can yield cash flows that are up to four times as large as those of the closed-loop facility; (2) The cash flow from operating a large closed-loop facility can be achieved by operating an open-loop facility with 10 times smaller reservoirs; and (3) The open-loop facility with the downstream flow can be more advantageous than the open-loop facility with the upstream flow (with an improvement of more than 10% in the cash flow) if the negative electricity price occurs more than 30% of the time.en_US
dc.embargo.release2024-11-09
dc.identifier.doi10.1016/j.renene.2022.11.009en_US
dc.identifier.eissn1879-0682
dc.identifier.issn0960-1481
dc.identifier.urihttp://hdl.handle.net/11693/111339
dc.language.isoEnglishen_US
dc.publisherElsevier Ltden_US
dc.relation.isversionofhttps://doi.org/10.1016/j.renene.2022.11.009en_US
dc.source.titleRenewable Energyen_US
dc.subjectPumped hydro energy storageen_US
dc.subjectStochastic dynamic programen_US
dc.subjectElectricity priceen_US
dc.subjectStreamflow rateen_US
dc.titleShort-term assessment of pumped hydro energy storage configurations: Up, down, or closed?en_US
dc.typeArticleen_US

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