Summary
As the global community accelerates its transition toward renewable energy, the importance of reliable energy storage becomes increasingly evident. Among the various technologies available, pumped storage hydropower (PSH) stands out as a cornerstone solution, ensuring grid stability and sustainability. This report explores the substantial benefits, challenges, and strategic pathways for advancing PSH in North America, emphasizing its vital role in a renewable energy future.
According to the International Hydropower Association's (IHA) 2024 World Hydropower Outlook, global PSH capacity grew by 6.5 GW in 2023, reaching 179 GW. Projections by the International Renewable Energy Agency (IRENA) to meet a global net-zero scenario by 2050 indicate that over 420 GW of PSH will be required, which means about 10 GW/year of new installed capacity or an annual installed capacity growth rate of approximately 3.3 percent. For the United States to meet its corresponding share of the global net zero goals, it would require an average of about 1000 MW of new PSH installed yearly.
The United States needs new pumped storage to meet its long-duration energy storage needs and support its federal and state renewable energy targets. This report provides an analysis of PSH's evolution and technological advancements and suggests strategic actions to overcome existing barriers specific to the United States. In the United States, 67 new PSH projects are planned across 21 states, representing over 50 GW of new storage capacity. The future of energy is one where reliability, sustainability, and resilience are all paramount. PSH is uniquely positioned to deliver on all these fronts, making it an indispensable component of our energy strategy.