An Innovative Planning Method for the Optimal Capacity Allocation of a Hybrid Wind–PV–Pumped Storage Power System

Abstract

In recent years, wind and photovoltaic power (PV) have been the renewable energy sources (RESs) with the greatest growth, and both are commonly recognized as the major driving forces of energy system revolution. However, they are characterized by intermittency, volatility and randomness. Therefore, their stable and efficient implementation is one of the most significant topics in the field of renewable energy research. In order to improve the stability of RESs and reduce the curtailment of wind and solar energy, this paper proposes an innovative planning method for optimal capacity allocation. On one hand, a new power generation system is introduced which combines a pumped storage power station with a wind farm and PV; on the other hand, the sequential Monte Carlo method is utilized to analyze the economy and reliability of the system under different capacity configurations considering investment cost, operating characteristics and influence factors of wind and solar energy. Then, optimal capacity allocation can be achieved. In summary, this proposed scheme provides an effective solution for the planning and construction of a new power generation system with RESs.

Keywords

• capacity allocation
• hybrid renewable energy system
• comprehensive income
• sequential Monte Carlo method