Capacity determination of pumped storage projects using market electricity prices

Çetinkaya, Semih
Renewable and clean energy is gaining more importance after the nuclear disasters with increasing awareness of depletion of fossil fuels, concerns about the global warming and increasing energy demand. However, intermittency of renewable resources is the biggest challenge in the restructuring world energy market. Energy has to be stored against sudden changes in the production and consumption. In order to keep the continuity of the energy supply, pumped storage can be a remedy. Therefore, pumped storage projects have became popular again since 2000s. There are several projects under construction or in planning stages all around the world. In Turkey, there is no pumped storage project under construction or in operation although it has considerably long history of using hydropower. Recently, both the government institutions and the private sector are seriously considering developing pumped storage projects. Therefore, in the present thesis, software which is called PXSC in Microsoft Excel with VBA is developed to assess pumped storage projects by the market electricity prices. The tool consists of both hydraulic and economic analysis.