CVaR‐based generation expansion planning of cascaded hydro‐photovoltaic‐pumped storage system with uncertain solar power considering flexibility constraints
Mingkun Du, Yuan Huang, Junyong Liu, Gang Wu, Shafqat Jawad
Abstract
Abstract The development of a high solar energy penetrated power system requires considerable flexibility to hedge the risk of solar power curtailment and power shortage. This paper explores how the generation portfolio of cascaded hydro‐photovoltaic‐pumped storage (CH‐PV‐PS) generation system will be appropriately designed to balance the overall planning costs and operational flexibility constraints. The proposed study relies on the generation expansion planning (GEP) model of the CH‐PV‐PS system, considering a full set of flexibility constraints. An index designated ramp‐capability reserve shortage (RCRS) based on the conditional value at risk (CVaR) method is introduced to quantify the risk of solar power and load uncertainty. The piecewise linearization method and triangle method are developed to accommodate the non‐linear terms in the proposed model. Finally, the case studies are conducted to demonstrate the applicability and effectiveness of the proposed model.