Market Strategy for Enhancing the Profitability of Pumped-Storage Hydro Power Plants Using Photovoltaic Energy

This study examines the techno-economic implications of integrating the produced electricity from photovoltaic power plants (PVPP) with varying installed capacities to enhance the profitability of the planned pumped-storage hydro power plant (PSHPP) Tashmarunishta in North Macedonia. The analysis focuses on optimizing the PV power plant capacity to meet water-pumping demands and maximize the PSHPP’s annual gross profit. Utilizing data from the PSHPP Tashmarunista’s pre-investment study and hourly production data from simulations performed in PV*SOL premium, the research incorporates financial modeling based on HUPX hourly market prices for 2023, alongside sensitivity analyses for average electricity prices from 2016–2024. The results reveal that the PSHPP operates at a financial loss without the use of PV energy, while coupling with PV energy achieves positive annual gross profit. The findings underscore the technical and economic advantages of synergizing PSHPP’s with photovoltaic power plants, demonstrating a scalable model for future energy integration strategies.