To clarify a few things in this post:
In cycling there is something called Functional Threshold Power (FTP) which represents the maximum amount of effort you can put out in one hour, after which you are totally destroyed. For me it’s about 220W and at my current weight means I can cover about 23miles in that time. Some people also call this Critical Power. It represents the point at which your body can’t flush lactate as fast as you’re making it, so it’s also known as Lactate Threshold. But it is not the same thing as VO2max.
If you take that number and bike at 105% you will max out in about 20min, this is by definition the 20min threshold test. Biking at 120% will destroy you in about 5min.
It’s unlikely you could hold 150% for more than 1min. However, you’ll be able to recover after a few minutes and do it again because this is an anaerobic effort. But you won’t be able to do this for more than a few times. This is what I referred to as matches. Think weight lifting.
In the other direction, if you lower it to 95% you’ll be able to bike for much longer than an hour. You’ll probably be close to maximum heart rate and have trouble breathing. At 85% I can bike 56 miles in less than 3 hours then get off my bike and run a half marathon.
Drop the number down to 75% and you’re completely aerobic to the point that you can pretty much bike forever. That’s my target during an Ironman which allows me to bike 112 then run a marathon.
All of this is completely independent of terrain/hills/wind. It doesn’t matter what the course is as long as you stick to your target power. What’s happening in the OP is that on the hills his power is spiking up over 150%, which is fine the for the first hill. It’s tiring but easy to recover from when coasting down the other side. It works again on the next hill, and the hill after that. Problem is that eventually the body runs out and reaches its threshold, after which there isn’t anything left.
There are two* solutions to this problem. One is to learn how to stay below threshold going up the hills. The other is to increase your overall threshold. A third less popular solution is to lose weight.
I am currently in the process of building my threshold power because it is pathetically low. It takes 1 hour sessions 4 times per week and will take months to improve. Once I improve it’s unlikely I’ll lose it quickly, even if I take months off and have less endurance. Keep in mind that the percentages won’t change. I’ll still only be able to bike for 1 hour at threshold, but that will now be slightly faster. I’ll still have to stay under threshold for hills, but I’ll climb slightly faster.
Endurance essentially refers to anything over an hour. Once you can bike for an hour, it’s a matter of backing off your effort to a point that will let you bike forever. If you go out harder, or fly up a hill, you won’t last forever.