Economic evaluation of Wind–PV–Pumped​ storage hybrid system considering carbon emissions

Abstract

Multi-energy complementarity is an important means to solve the problem of renewable energy consumption. In this paper, the economic evaluation model of Wind–Photovoltaic (PV)–Pumped Storage (PS) hybrid system with different scenarios of installed capacity is constructed based on the high proportion of wind and PV accessing to power grids. Firstly, an index system covering techno-economic, financial and social and environmental benefits is established under the guidance of the SMART Principle. The influence of carbon emissions is considered in the index for social and environmental benefits. Then the combination weighting method is used to weigh each index, afterwards the total score is calculated by the nonlinear weighted method. Finally, the model is applied to solve and analyze the hybrid system under 22 scenarios. The result shows the nonlinear correlation between comprehensive economic benefits and the installed capacity, and presents the local maximum of the economic benefits in a certain range as well.

Keywords

• Wind–PV–PS hybrid system
• Economic evaluation
• Pumped storage
• Sizing
• Carbon emissions