Maximizing the Total Profit of Combined Systems with a Pumped Storage Hydropower Plant and Renewable Energy Sources Using a Modified Slime Mould Algorithm

Le Chi Kien, Ly Huu Pham, Minh Phuc Duong and Tan Minh Phan ()
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Le Chi Kien: Faculty of Electrical and Electronics Engineering, Ho Chi Minh City University of Technology and Education, Ho Chi Minh City 700000, Vietnam
Ly Huu Pham: Power System Optimization Research Group, Faculty of Electrical and Electronics Engineering, Ton Duc Thang University, Ho Chi Minh City 700000, Vietnam
Minh Phuc Duong: Power System Optimization Research Group, Faculty of Electrical and Electronics Engineering, Ton Duc Thang University, Ho Chi Minh City 700000, Vietnam
Tan Minh Phan: Power System Optimization Research Group, Faculty of Electrical and Electronics Engineering, Ton Duc Thang University, Ho Chi Minh City 700000, Vietnam

Energies, 2024, vol. 17, issue 24, 1-25

Abstract: This paper examines the effectiveness of a pumped storage hydropower plant (PSHP) when combined with other plants. System 1 examines the contribution of the PSHP to reducing fuel costs for thermal power plants. System 2 examines the optimization of operations for power systems with energy storage and uncertain renewable energies to maximize total profit based on four test system cases: Case 1: neglect the PSHP and consider wind and solar certainty; Case 2: consider the PSHP and wind and solar certainty; Case 3: neglect the PSHP and consider wind and solar uncertainty; and Case 4: consider the PSHP and wind and solar uncertainty. Cases 1 and 2 focus on systems that assume stable power outputs from these renewable energy sources, while Cases 3 and 4 consider the uncertainty surrounding their power output. The presence of a PSHP has a key role in maximizing the system’s total profit. This proves that Case 2, which incorporates a PSHP, achieves a higher total profit than Case 1, which does not include a PSHP. The difference is USD 17,248.60, representing approximately 0.35% for a single day of operation. The total profits for Cases 3 and 4 are USD 5,089,976 and USD 5,100,193.80, respectively. Case 4 surpasses Case 3 by USD 10,217.70, which is about 0.2% of Case 3’s total profit. In particular, the PSHP used in Cases 2 and 4 is a dispatching tool that aims to achieve the highest profit corresponding to the load condition. The PSHP executes its storage function by using low-price electricity at off-peak periods to store water in the reservoir through the pumping mode and discharge water downstream to produce electricity at periods with high electricity prices using the generating mode. As a result, the total profit increases. A modified slime mould algorithm (MSMA) is applied to System 2 after proving its outstanding performance compared to the jellyfish search algorithm (JS), equilibrium optimizer (EO), and slime mould algorithm (SMA) in System 1.

Keywords: slime mould algorithm; pumped storage hydropower plant; wind uncertainty; solar uncertainty; maximum total profit (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2024
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