Abstract
The limitations with the renewable energy sources is a very prominent factor for the development of different energy storage systems. Compressed Air Energy Storage (CAES) and Pumped Storage Hydro (PSH) are two upcoming energy storage technologies for large scale energy storage. It is important to understand the economics involved in these energy storage technologies. In this paper, an attempt has been made to compare the integrated PV-CAES system with PV-PSH system in terms of the profit obtained. The two systems are modeled for the same demand and initial conditions and the operational strategy for a typical day has been obtained. It was found that PV-CAES system is a profitable venture when compared with PV-PSH system for the same initial and demand conditions.
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