Comparative Study on Common and Different Values of Pumped Storage and Thermal Power

Pumped storage is integral in modern power systems, especially those emphasizing renewable energy. It significantly boosts renewable energy utilization and aids in achieving carbon reduction targets. Comparatively, thermal power plants have traditionally ensured grid stability and security. Therefore, comparing the shared characteristics and differences in value between pumped storage and thermal power is essential. This article begins with a qualitative analysis of the commonalities and distinctions between pumped storage and thermal power. It establishes a fundamental model for peak load regulation encompassing both. It then builds economic and comprehensive evaluation models based on shadow pricing theory to assess the benefits of peak load regulation and provide investment guidance. In conclusion, by using load data and power generation curves from a provincial-level electricity grid, this article quantitatively analyzes the roles of pumped storage and thermal power in peak load regulation. This analysis is crucial for understanding how pumped storage enhances the efficiency and sustainability of modern power systems, especially those emphasizing renewable energy, and offers valuable insights for investment decisions.