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Optimization of Pumped Hydro Energy Storage Systems Under Uncertainty: A Review

Journal Article
This paper provides an overview of the research dealing with optimization of pumped hydro energy storage (PHES) systems under uncertainty. This overview can potentially stimulate the scientific community’s interest and facilitate future research on this topic./p The authors review the literature from various perspectives, including the optimization problem type, objective function, physical characteristics of the PHES facility, paradigm used to capture uncertainty, and solution method adopted. The authors then identify several research gaps and future research directions for energy researchers. This review highlights the need for developing optimization models such as Markov decision processes that can represent uncertainties in renewable energy sources and electricity markets more accurately, constructing multi-objective models that consider not only economic but also environmental impacts, investigating underrepresented solar-PHES systems and PHES sizing problems, addressing nonlinear characteristics of PHES facilities, and optimizing bidding strategies in sequential or coordinated electricity markets.