Quantifying the flexibility regulation potential and economic value of pumped storage in extreme scenarios of multi-energy complementary system

Jingyue Yang, Hao Zhang, Chenxi Li, Pengcheng Guo and Bo Ming

Energy, 2025, vol. 329, issue C

Abstract: The power system with a high proportion of renewable energy installed capacity requires large-scale power supply adjustment to ensure stable operation. Pumped storage, as a typical large-scale flexible power supply, can effectively stabilize the output fluctuations of renewable energy. This study aims to enhance the flexibility of novel power systems by exploring the regulation potential of pumped storage under extreme scenarios. Extreme scenarios with low, medium, and high renewable penetration rates are generated using Gaussian Mixture Model (GMM) clustering. These scenarios enable an in-depth analysis of flexibility regulation demands and capabilities on both the supply and demand sides. A scheduling optimization model is developed to assess the flexibility regulation capacity and economic benefits of pumped storage. The model quantifies the flexibility regulation capacity and the total daily electricity cost of pumped storage under different scenarios. The results show that in the medium penetration scenario, the total transferable load and its peak periods are reduced. In the high penetration scenario, the flexibility regulation capacity of pumped storage becomes more pronounced. When the ratio of renewable energy, pumped storage, and thermal power is 2:1:1, pumped storage provides enhanced flexibility regulation and minimizes the total electricity cost.

Keywords: Pumped storage; Flexibility regulation potential; Economic value; Extreme scenarios; Multi-energy complementary system (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:329:y:2025:i:c:s0360544225023916

DOI: 10.1016/j.energy.2025.136749

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