| PSH, with a total of 22 GW of installed capacity in the United States, represent over 95% of the domestic electric energy storage available today. However, no large PSH projects have been commissioned in the last 20 years due to challenges associated with the magnitude of project costs and financing interest during development and construction; the length of time from project investment until project revenue; permitting challenges and construction risks; competition from other storage technologies; and unrecognized energy storage valuation. To address these challenges, research and development efforts have focused on radically new designs and technologies that can dramatically reduce costs and commissioning timelines. In this study, Argonne National Laboratory will perform a landscape analysis to establish the current state of the art of PSH technology, identify promising new concepts and innovations, and highlight technology gaps that have yet to be addressed. |
