| dc.description.abstract | Bearing in mind the future development of the electric power system regarding the penetration of large amounts of intermittent and non-dispatchable renewable sources, energy storage is a key issue. Even though reversible hydro power plant technology has been around for almost 100 years, it is still the best way to store energy in terms of the quantity which can be stored and the energy ratio between produced and used energy. The newest improvement in pump storage systems are facilities with variable speed technology. After the first reversible hydro power plant with variable speed technology was built in Germany, all benefits from such facilities have been approved. Regulation during pumping mode, the possibility for achieving maximum efficiency for different rated speed during generating mode and pumping mode, optimum efficiency over a large power range and under all head conditions, faster decreasing and increasing output power during generating mode are only some of them.In the other part of this paper an economic model for building a reversible hydro power plant is made. Profitability and solvency are evaluated by profit and loss account, economic and financial cash flow. Based on that, the average electrical energy production cost, payback period, net present value, internal rate of return and profitability index are computed. At the end it can be seen which parameters the most influence project rationality and, based on a forecast for the future power market with increased penetration of wind sources, what average electrical energy production cost can be expected.This assignment is realized as a part of the collaborative project "Sustainable Energy and Environment in Western Balkans" that aims to develop and establish five new internationally recognized MSc study programs for the field of "Sustainable Energy and Environment", one at each of the five collaborating universities in three different WB countries. The project is funded through the Norwegian Programme in Higher Education, Research and Development in the Western Balkans, Programme 3: Energy Sector (HERD Energy) for the period 2011-2013. | nb_NO |
