Optimization of pumped hydro storage management with renewable generation under wind uncertainty using chance-constrained programming

The objective of this article is to develop an hourly mathematical model for the optimal techno-economic management of photovoltaic, wind and reversible pumped hydro storage plants in order to maximize the monthly operating profit over a whole year. The model incorporates the exchange of energy with the electrical grid to always meet the energy demand. In addition, the model includes the management of wind uncertainty through the chance-constrained technique, ensuring the coverage of the demand with renewable production in a certain percentage. The results obtained from the application of the model to a project under development in Spain show that the higher the risk of non-compliance with the chance-constrained technique constraints, the greater the flexibility of the system to optimally manage all available resources at minimum cost. In this way, although the system increases the imported energy up to 18 %, the costs are reduced up to 40 %, since the system leads to optimize the available resources, maximizing the profit. The system takes advantage of more competitive market prices compared to production prices at certain times. Therefore, maximizing the profit is prioritized over the coverage of demand with renewable resources.