Argonne leads creation of definitive valuation guide for pumped storage hydropower
(Image by Shutterstock / Alberto Masnovo.)
It is increasingly critical to properly value pumped storage hydropower as the prevalence and penetration of wind and solar energies grow in importance in the U.S. electrical power grid.
Newswise — How do we catch the wind or hold a sunbeam in our hands? We don’t — but pumped storage hydropower is the quiet giant that does it for us.
This commercially proven energy storage method uses pumps to transfer water from lower to higher ground when wind and solar energy sources have generated more electrical power than we need and when electricity rates are low. Then, the water generates electricity as it goes back downhill and rushes through propeller-like turbines when solar or wind energy is scarce, user demand is high and rates are peak. Pumped storage hydropower currently provides about 94% of all energy storage in the U.S. It has done so for decades, providing flexibility and support to the nation’s traditional power grid, and it can efficiently support the growing renewable energy sector.