Techno-Economic Assessment of Pumped Storage Hydro Power in Hybrid Operation with Floating Photovoltaic and Battery Energy Storage

In this study a techno-economic assessment of a pumped storage hydro power plant (PSHP) in combined operation with floating photovoltaic (FPV) and a battery energy storage system (BESS) is conducted. Therefore, a reference PSHP located in central Sweden is taken as reference and modelled using its actual technical specifications. In addition to the existing system, an FPV and a BESS are considered in the simulation model. The inherent reduced evaporation due to the FPV is also modelled. The entire portfolio is then optimized for trading on the day-ahead market. With the technical results the levelized costs of electricity (LCOE) and the net present value are calculated as economic key performance indicators. A parameter study is carried out to determine the influence of FPV and BESS on the PSHP. It is shown that both FPV and BESS increase the LCOE while reducing profitability. The maximum nominal FPV power that is economically feasible is approximately twice the grid connection capacity. The reduction of annual evaporation by the FPV is shown to be negligible for the given location as it only led to one additional hour of turbining in one year at moderate flow.