The world is in a race to find sustainable and reliable energy storage solutions, especially for solar- and wind-dominated grids. While batteries have their place in the energy mix, there's a more mature, cost-effective, and environmentally friendly solution waiting to be tapped: pumped hydro storage.
What makes pumped hydro so compelling is its abundance. With 800,000 potential sites worldwide, the storage capacity far exceeds global requirements. This means we can harness the power of water to store energy without the need for new dams on rivers. Imagine having 86 million GWh of storage, enough to cover nearly three years of global electricity production, right at our fingertips.
But what truly sets pumped hydro apart is its maturity and cost-effectiveness. With over 100 years of operating experience, it's a proven technology. The capital cost per kWh is significantly lower than that of equivalent batteries, and its lifespan is a staggering 150 years. This longevity means we can build a robust and reliable energy infrastructure that will serve us for generations.
Let's put this into perspective. We might need 50 kWh per person as a rule-of-thumb for rechargeable storage in an affluent society relying on solar and wind. Australia, a leader in solar electricity generation, is already on track to have 18 kWh per person of pumped hydro and battery storage. And the best part? We have 70 to 500 times more pumped hydro storage potential than we need.
The Global Pumped Hydro Atlas provides a comprehensive overview of potential sites, ranking them by indicative capital cost. A single site with a capacity of 5000 GWh can provide enough storage for 100 million affluent, fully decarbonized people. This is a game-changer, especially when compared to the Snowy 2.0 project in Australia, which has a storage capacity of 350 GWh at a similar cost.
Pumped hydro and batteries together form a powerful duo in the energy storage arena. While batteries excel at high-power intra-day storage and mobility solutions, they fall short when it comes to deep storage. Pumped hydro, on the other hand, is the perfect complement, offering economical deep storage for periods of low wind and solar generation.
In conclusion, pumped hydro storage is a mature, abundant, and cost-effective solution for the energy storage needs of solar- and wind-dominated grids. By embracing this technology, we can build a more sustainable and reliable energy future, ensuring that we have the power to meet the challenges of tomorrow.
