Patrick Balducci, Mark Weimar, Xu Ma, Di Wu, Jonghwan Kwon, Anna Schleifer, Vladimir Koritarov, Sang-il Yim, Bruce Hamilton
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New Tool Evaluates the Financial Viability of Pumped Storage Hydropower
The rapidly evolving electricity system with increasing variable renewable energy (VRE) resources provides both opportunities and challenges for the power sector. With the significant ramps and intermittency associated with VRE resources, the requirements and need for additional flexible resources increase. Pumped storage hydropower (PSH) provides flexibility to the electricity grid to replace fossil fuel plants, which are responsible for 25% of U.S. emissions. PSH projects support various aspects of power system operations, including flexibility, ramping capability, energy, ancillary service, black start, and others. The significant potential of hydropower requires understanding the different value drivers to the electricity system specific to the location of a project and then optimizing the plant for the different system values. Thus, determining the value of PSH projects and their many services and contributions to the electricity system can be a challenge for potential developers, system owners, regulators, policy makers, and consultants.
期刊介绍:
IEEE Power & Energy Magazine is dedicated to disseminating information on all matters of interest to electric power engineers and other professionals involved in the electric power industry with a focus on advanced concepts, technologies, and practices associated with all aspects of electric power from a technical perspective in synergy with nontechnical areas such as business, environmental, and social concerns. IEEE Power & Energy Magazine keeps its readers up-to-date on the latest technological advancements, industry news, business trends and strategies, products, and publications. Important newsworthy items concerning the worldwide activities and achievements of IEEE Power & Energy Society (PES), its organizational units, and its individual members are also included.