Pumped Hydroelectric Storage systems are the most mature and commercially developed technology for storing large quantities of energy. The technology may bring great added value for the upcoming era, due to its capability of managing the surplus of energy generated on the electrical grid, to promote the penetration of renewable energy sources and so the reduction of fossil fuels use. The new energy policies and possible benefits from the Pumped Hydroelectric Storage have led to the construction of new facilities in Europe, such 880 MW (Gouvães) in Portugal, 360 MW (Obervermuntwerk II) in Austria, 1000MW (Kaniv) in Ukraine, 200 MW (Soria-Chira) in Spain. Many studies have been carried out discussing its benefits from several perspectives. The present work aims at investigating the economic profile of a Pumped Hydroelectric Storage system, to understand the variables that affect the profit and the way they interconnect with each other in order to maximize it. The study focuses on the Italian and Portuguese energy markets and studies different operational strategies to investigate the possible economic outcome in both countries. The operational strategies use price thresholds to define the moments in which the PHSs should generate or pump energy. In addition, several hypotheses are considered with respect to the PHS working capacity: either the system works under the current PHSs’ use trends (OS 1), or as an ideal system working with an on/off function at full installed capacity (OS 2), or lastly as a system whose power increases gradually, depending on the price variation (OS 3), until reaching the installed capacity. The assessment results show that the same operational strategy presents a different optimal exploitation strategy for the Italian and Portuguese cases and, more importantly, that there are significant possibilities for current facilities to have a larger participation in the respective energy market, leading to both increased renewable sources exploitation and higher revenues for the storage systems. More specifically, OS 2 is the operational strategy that better performs in terms of maximized profit, for both countries. Indeed, the yearly maximized profit under OS 2 is 290 million € and 118 million € for Italy and Portugal respectively, compared to 58 and 57 million € for the same countries in OS 1 (worst performing strategy).
I sistemi idroelettrici a pompaggio sono la tecnologia più matura e sviluppata a livello commerciale per stoccare grandi quantità di energia. Data la loro capacità di gestire i surplus di energia generata e immessa nella rete elettrica, questa tecnologia potrà dare un forte contributo nel futuro alla penetrazione delle fonti energetiche rinnovabili nel mercato energetico e alla conseguente riduzione dell’uso dei combustibili fossili. Le nuove politiche energetiche e i possibili benefici derivanti dall’uso dei sistemi PHS hanno portato e porteranno alla costruzione di nuovi impianti in Europa, con dimensioni pari a 880 MW (Gouvães) in Portogallo, 360 MW (Obervermuntwerk II) in Austria, 1000MW (Kaniv) in Ucraina e 200 MW (Soria-Chira) in Spagna. Molti studi sono stati fatti sui benefici di tale tecnologia, affrontando l’argomento da diversi punti di vista. Il presente lavoro punta a analizzare il profilo economico di un sistema PHS, in particolare andando ad analizzare le variabili che influenzano il profitto del sistema e come esse si interconnettono per massimizzarlo. Lo studio si concentra sui mercati energetici italiano e portoghese e applica diverse strategie operative (SO) per massimizzare il profitto in entrambi i paesi. Le SO usano soglie di prezzo per definire i momenti in cui il sistema PHS deve generare o pompare energia. Inoltre, vengono considerate diverse ipotesi sulla capacità di sfruttamento del PHS : si assume che il sistema venga esercitato in accordo con gli attuali trend di funzionamento del PHS, basati sugli esiti del mercato elettrico (SO 1), oppure mediante un funzionamento ideale di tipo on/off disponendo della piena capacità installata (SO 2), o ancora che il sistema lavori con variazioni di potenza graduali e dettate da segnali di prezzo, fino a raggiungere la piena capacità (SO 3). I risultati dello studio mostrano che la stessa SO presenta una metodologia di sfruttamento differente per i casi italiano e portoghese. Inoltre, evidenzia che gli impianti attualmente in uso possono incrementare la propria partecipazione al mercato energetico, con l’obiettivo di aumentare sia lo sfruttamento di risorse rinnovabili che i profitti del PHS. In particolare, SO 2 è la SO che presenta migliore performance in termini di massimizzazione del profitto, per entrambi i paesi. Infatti, il profitto annuale massimizzato con SO 2 è di 290 milioni di € per l’Italia e di 118 milioni di € per il Portogallo, paragonato a 58 e 57 milioni di € per gli stessi paese in SO 1 (peggiore performance).
Pumped hydroelectric storage systems : technical review and economic assessment
BRANCO ROQUE DA NAZARE' FERREIRA, FRANCISCO
2017/2018
Abstract
Pumped Hydroelectric Storage systems are the most mature and commercially developed technology for storing large quantities of energy. The technology may bring great added value for the upcoming era, due to its capability of managing the surplus of energy generated on the electrical grid, to promote the penetration of renewable energy sources and so the reduction of fossil fuels use. The new energy policies and possible benefits from the Pumped Hydroelectric Storage have led to the construction of new facilities in Europe, such 880 MW (Gouvães) in Portugal, 360 MW (Obervermuntwerk II) in Austria, 1000MW (Kaniv) in Ukraine, 200 MW (Soria-Chira) in Spain. Many studies have been carried out discussing its benefits from several perspectives. The present work aims at investigating the economic profile of a Pumped Hydroelectric Storage system, to understand the variables that affect the profit and the way they interconnect with each other in order to maximize it. The study focuses on the Italian and Portuguese energy markets and studies different operational strategies to investigate the possible economic outcome in both countries. The operational strategies use price thresholds to define the moments in which the PHSs should generate or pump energy. In addition, several hypotheses are considered with respect to the PHS working capacity: either the system works under the current PHSs’ use trends (OS 1), or as an ideal system working with an on/off function at full installed capacity (OS 2), or lastly as a system whose power increases gradually, depending on the price variation (OS 3), until reaching the installed capacity. The assessment results show that the same operational strategy presents a different optimal exploitation strategy for the Italian and Portuguese cases and, more importantly, that there are significant possibilities for current facilities to have a larger participation in the respective energy market, leading to both increased renewable sources exploitation and higher revenues for the storage systems. More specifically, OS 2 is the operational strategy that better performs in terms of maximized profit, for both countries. Indeed, the yearly maximized profit under OS 2 is 290 million € and 118 million € for Italy and Portugal respectively, compared to 58 and 57 million € for the same countries in OS 1 (worst performing strategy).File | Dimensione | Formato | |
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https://hdl.handle.net/10589/146785