Optimization operation strategy of wind–pumped storage integrated system participation in spot market considering dual uncertainties

Abstract With the gradual increase in the penetration rate of renewable energy, the multifunctional role of pumped storage is becoming increasingly prominent, and the joint operation of “renewable energy + pumped storage” is a current research hotspot. However, during the joint system operation, there are dual risks from internal (renewable energy output) and external (market prices) factors, which significantly impact the system’s overall revenue. Therefore, an analysis is conducted around the operational mechanism of the “wind power–pumped storage” joint operation, and the uncertain factors faced during the system’s operation are identified. Second, an optimization model for wind power–pumped storage under deterministic scenarios is constructed, employing robust optimization theory and information gap decision theory to describe the uncertainty of electricity prices and wind power, thus forming a hybrid of the information gap decision theory and the robust optimization model for wind power–pumped storage. Finally, the results show that: (1) The total revenue of the model proposed in the paper has increased by 2.36% compared to the robust optimization model and by 9.04% compared to the deterministic model, significantly enhancing the model’s robustness and risk resistance capabilities. (2) From the perspective of the economic feasibility of different energy storage system configurations, the wind plant equipped with pumped storage has the highest economic feasibility, with an internal rate of return of 9.8% and net present value of 872 million Chinese Yuan, which is higher than that of compressed air energy storage and electrochemical energy storage systems. (3) Decision makers can set the risk deviation coefficient and the uncertainty budget according to their risk preferences, thereby changing the robustness of the model for differentiated decision making. However, an increase in the uncertainty budget coefficient will cause the total revenue of the joint operation system first to increase and then decrease, with the maximum revenue achievable within the range of 500–625; the total revenue reaches its maximum when the risk deviation coefficient is between 0.1 and 0.125.