| Summary: | Driven by the carbon peaking and carbon neutrality goals, the power system is transforming to the new structure which is dominated by renewable energy and is facing a new supply-demand balance situation. Pumped storage, as the most mature energy storage technology at present, can provide flexible resources with different time scales to ensure the safety of the power system and promote the consumption of renewable energy. However, the operation strategy and cost sharing mechanism of the pumped storage station (PSS) are not clear, which hinders its further development under the new situation. In this context, the technical characteristics and functions of PSS are sorted out first. Then, the investment cost model is established from the perspective of the whole life cycle. After that, the evolution path of pricing mechanism and cost sharing mode are described in view of the different stages of electricity market development, providing a feasible scheme for the marketization of PSS. Finally, the future development of PSS is summarized and prospected.
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