Estimating the value of energy storage: The role of pumped hydropower in the electricity supply network

IF 1.3 4区经济学 Q3 ECONOMICS

Japan and the World Economy Pub Date : 2023-08-23 DOI:10.1016/j.japwor.2023.101210

Chihiro Yagi , Kenji Takeuchi

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引用次数: 1

Abstract

This study explores the role of storage systems in reducing the variability of renewable power, focusing on pumped hydropower storage (PHS) systems. We regress the hourly storage by PHS on the hourly solar power generation to estimate the average amount of solar power generation stored by PHS systems. We adopt an instrumental variable approach to mitigate any endogeneity concerns, in which a weighted sunshine duration serves as the instrument for solar power generation. Our estimation results show that PHS systems alleviate the intermittency of solar power generation: an additional 1 MWh of solar power generation corresponds to an additional 0.249 MWh of storage by PHS systems. The relationship between PHS and solar power is more pronounced when the demand is relatively low and solar power generation is large. Inter-regional transmission grids also respond to an increase in solar power generation but to a lesser extent than PHS systems. Based on the estimated coefficients in the empirical analysis, we quantified the value of the existing PHS systems as storage systems that mitigated intermittent solar power generation. The estimated social benefit of avoiding curtailment is 180–280 million yen for a 10 MW scale plant, accounting for 7.7–11.7% of the cost of constructing a new PHS system. The result highlights the importance of effectively utilizing the current PHS capacity.

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估算储能价值：抽水蓄能在供电网络中的作用

本研究探讨了储能系统在降低可再生能源可变性方面的作用，重点是抽水蓄能(PHS)系统。我们将小灵通系统的每小时储能与每小时太阳能发电量进行回归，估计小灵通系统的平均太阳能发电量。我们采用工具变量方法来减轻任何内生性问题，其中加权日照时间作为太阳能发电的工具。我们的估计结果表明，小灵通系统缓解了太阳能发电的间歇性:每增加1 MWh的太阳能发电量对应于小灵通系统额外的0.249 MWh的存储。小灵通与太阳能的关系在需求相对较低、太阳能发电量较大时更为明显。区域间输电网也对太阳能发电的增加作出反应，但程度不及小灵通系统。根据实证分析的估计系数，我们量化了现有小PHS系统作为缓解间歇性太阳能发电的存储系统的价值。对于一个10兆瓦规模的电厂来说，避免弃电的社会效益估计为1.8亿至2.8亿日元，占新建PHS系统成本的7.7-11.7%。结果突出了有效利用当前小灵通容量的重要性。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Japan and the World Economy ECONOMICS-

CiteScore

2.60

自引率

0.00%

发文量

审稿时长

46 days

期刊介绍： The increase in Japan share of international trade and financial transactions has had a major impact on the world economy in general and on the U.S. economy in particular. The new economic interdependence between Japan and its trading partners created a variety of problems and so raised many issues that require further study. Japan and the World Economy will publish original research in economics, finance, managerial sciences, and marketing that express these concerns.