Evaluating feasibility of hybrid floating PV hydro battery systems using long term dispatch optimization

Floating photovoltaic systems are increasingly hybridized with hydropower and battery storage, but conventional techno-economic assessments often rely on static dispatch assumptions and fail to capture long-term market dynamics. This study develops an integrated assessment framework that combines long-term probabilistic forecasting of electricity prices, hydropower inflow, and floating photovoltaic generation with a 30-year dispatch optimization model. The framework is applied to hybrid floating photovoltaic–hydro–battery configurations under two representative U.S. electricity market conditions to evaluate the economic impacts of storage sizing and operational strategy. Results demonstrate that incorporating dispatch optimization increases average lifetime profit by approximately 28% compared with traditional techno-economic assessment approaches. However, profit declines as battery capacity expands due to current storage capital costs, indicating that substantial reductions in the levelized cost of storage are required for economically viable hybrid designs. The findings highlight the value of co-optimizing hydropower and storage operations in floating photovoltaic hybrid systems and provide a more realistic basis for long-term investment evaluation in competitive electricity markets.