Timing Optimization Method for Pumped Storage Plant Construction Considering Capital Expenditure Capacity Feedback
With the extensive integration of renewable energy into the power grid, pumped storage power plants have become an essential component in the development of modern power systems due to their rapid response capabilities, advanced technology, and other beneficial features. However, high construction c...
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| Format: | Article |
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MDPI AG
2024-12-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/18/1/47 |
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| author | Jie Jiao Xiaoquan Lei Puyu He Qian Wang Guangxiu Yu Wenshi Ren Shaokang Qi |
| author_facet | Jie Jiao Xiaoquan Lei Puyu He Qian Wang Guangxiu Yu Wenshi Ren Shaokang Qi |
| author_sort | Jie Jiao |
| collection | DOAJ |
| description | With the extensive integration of renewable energy into the power grid, pumped storage power plants have become an essential component in the development of modern power systems due to their rapid response capabilities, advanced technology, and other beneficial features. However, high construction costs and irrational capital expenditure and construction schedules have constrained the robust and sustainable growth of pumped storage plants. Therefore, this paper proposes a pumped storage plant construction timing optimization method considering capital expenditure capacity feedback. Initially, an analysis is conducted on the factors that influence the capital expenditure costs of pumped storage power plants throughout their lifecycle. Next, the value of investing in pumped storage plants is assessed across three different aspects: economics, environment, and reliability. Finally, according to the principle of dynamic planning combined with the actual needs and capital expenditure potential of pumped storage plants, the sum of the capital expenditure effectiveness values in each stage is used as the indicator function of each stage to construct the pumped storage plants project capital expenditure timing optimization model, and a simulation analysis is carried out with Province Z as an example to verify the validity and applicability of the proposed model. The findings indicate that the suggested model is effective in balancing the implementation time of individual projects to achieve the maximum cumulative capital expenditure performance over the entire planning period. |
| format | Article |
| id | doaj-art-9cb6336dbb234b2ebe4ee85297f6cdd4 |
| institution | Kabale University |
| issn | 1996-1073 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj-art-9cb6336dbb234b2ebe4ee85297f6cdd42025-01-10T13:16:56ZengMDPI AGEnergies1996-10732024-12-011814710.3390/en18010047Timing Optimization Method for Pumped Storage Plant Construction Considering Capital Expenditure Capacity FeedbackJie Jiao0Xiaoquan Lei1Puyu He2Qian Wang3Guangxiu Yu4Wenshi Ren5Shaokang Qi6State Grid Sichuan Economic Research Institute, Chengdu 610041, ChinaState Grid Power Company of Sichuan Province, Chengdu 610041, ChinaState Grid Sichuan Economic Research Institute, Chengdu 610041, ChinaState Grid Sichuan Economic Research Institute, Chengdu 610041, ChinaState Grid Sichuan Economic Research Institute, Chengdu 610041, ChinaState Grid Sichuan Economic Research Institute, Chengdu 610041, ChinaSchool of Economics and Management, North China Electric Power University, Beijing 102206, ChinaWith the extensive integration of renewable energy into the power grid, pumped storage power plants have become an essential component in the development of modern power systems due to their rapid response capabilities, advanced technology, and other beneficial features. However, high construction costs and irrational capital expenditure and construction schedules have constrained the robust and sustainable growth of pumped storage plants. Therefore, this paper proposes a pumped storage plant construction timing optimization method considering capital expenditure capacity feedback. Initially, an analysis is conducted on the factors that influence the capital expenditure costs of pumped storage power plants throughout their lifecycle. Next, the value of investing in pumped storage plants is assessed across three different aspects: economics, environment, and reliability. Finally, according to the principle of dynamic planning combined with the actual needs and capital expenditure potential of pumped storage plants, the sum of the capital expenditure effectiveness values in each stage is used as the indicator function of each stage to construct the pumped storage plants project capital expenditure timing optimization model, and a simulation analysis is carried out with Province Z as an example to verify the validity and applicability of the proposed model. The findings indicate that the suggested model is effective in balancing the implementation time of individual projects to achieve the maximum cumulative capital expenditure performance over the entire planning period.https://www.mdpi.com/1996-1073/18/1/47pumped storage power plantcapital expenditure capacitytiming optimizationcapital expenditure effectiveness |
| spellingShingle | Jie Jiao Xiaoquan Lei Puyu He Qian Wang Guangxiu Yu Wenshi Ren Shaokang Qi Timing Optimization Method for Pumped Storage Plant Construction Considering Capital Expenditure Capacity Feedback Energies pumped storage power plant capital expenditure capacity timing optimization capital expenditure effectiveness |
| title | Timing Optimization Method for Pumped Storage Plant Construction Considering Capital Expenditure Capacity Feedback |
| title_full | Timing Optimization Method for Pumped Storage Plant Construction Considering Capital Expenditure Capacity Feedback |
| title_fullStr | Timing Optimization Method for Pumped Storage Plant Construction Considering Capital Expenditure Capacity Feedback |
| title_full_unstemmed | Timing Optimization Method for Pumped Storage Plant Construction Considering Capital Expenditure Capacity Feedback |
| title_short | Timing Optimization Method for Pumped Storage Plant Construction Considering Capital Expenditure Capacity Feedback |
| title_sort | timing optimization method for pumped storage plant construction considering capital expenditure capacity feedback |
| topic | pumped storage power plant capital expenditure capacity timing optimization capital expenditure effectiveness |
| url | https://www.mdpi.com/1996-1073/18/1/47 |
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