Abstract
The technical and economic feasibility of Pumped Hydroelectric Energy Storage (PHES) is increasingly under discussion in Belgium and worldwide. The important initial capital cost, a barrier to the use of PHES systems, could be counterbalanced by using pre-existing installations (as mines or quarries). However, it is necessary to have an estimation of the costs and revenues breakdown of these installations in order to optimise the number and the type of components that will be installed. This paper presents the cost and revenue breakdown for a PHES installation to be installed in Belgium, more specifically in the Walloon region. It presents the division of the plant into sub-parts for which the investment costs are modelled (reservoirs, electrical lines, etc.). An optimisation of the revenue sources available to PHES plants in Belgium is then presented. This helps to optimise the utilisation of the plant. Operation and Maintenance costs are finally taken into account to build a financial analysis of the investment. These computations help to estimate the most promising installation for a dedicated site. This is then illustrated as a conclusion on a case study of a PHES site of 4MW and 20MWh installed in a quarry and a mine. Results show that the installation in the mine seems more promising, but specific additional startup costs will have to be taken into account in futures works.