Pumped Storage: Could the Next Generation of Technologies Contribute to Addressing Energy Resilience Needs?

Pumped-storage energy systems are positioned to promote reliability and resilience in electricity by complementing variable renewable energy resources, such as solar photovoltaics (PV) and wind. Yet, pumped-storage hydropower (PSH) projects have had difficulty attracting investment. Despite ongoing efforts enabling more valuation opportunities for storage, current market mechanisms are limited in their ability to encourage investment in long-duration storage. Harmonization of energy policy goals and long-term capacity planning for low-carbon scenarios at the regional and state level is needed to facilitate investment in long-duration storage. Without such efforts, existing markets are likely to encourage over investment in shorter duration storage technologies and operational designs.