Global pumped storage hydropower - statistics & facts
Pumped storage hydropower is an energy storage technology that plays a crucial role in stabilizing power grids, balancing electricity supply and demand, and integrating renewable energy sources into national grids. In 2023, pumped hydropower was the dominant global electricity storage solution, accounting for 62 percent of the world’s energy storage capacity.
Pumped storage operates on a simple yet effective principle: storing energy in the form of water at elevation. During periods of low electricity demand, surplus power is used to pump water from a lower reservoir to an upper reservoir. When demand peaks, the stored water is released back to the lower reservoir, passing through turbines to generate electricity.
Despite its advantages, the implementation of pumped storage faces several challenges. High initial capital costs and geographical limitations are the primary barriers. Suitable locations with the necessary elevation difference and water resources are not always readily available. Environmental concerns, such as the potential impact on local ecosystems and landscapes, also need to be addressed through careful planning and regulation.
Pumped storage hydropower plays an increasingly important role in ensuring energy security. It provides efficient, large-scale energy storage, making it a key technology for sustainable power grids. With further investments and supportive policies, pumped storage is set to grow, helping to support a more resilient and sustainable global energy system.
Pumped storage operates on a simple yet effective principle: storing energy in the form of water at elevation. During periods of low electricity demand, surplus power is used to pump water from a lower reservoir to an upper reservoir. When demand peaks, the stored water is released back to the lower reservoir, passing through turbines to generate electricity.
Who are the key players?
Globally, China leads the market with an installed capacity of over 50.9 gigawatts (GW); followed by Japan, with 21.8 GW; and the United States, with 16.7 GW. In Europe, Germany and Italy stand out as key players, with 9.4 GW and 7.2 GW respectively, although Europe has seen a slight decline in cumulative capacity from 2018 to 2023. Nevertheless, the global pumped hydropower storage market is witnessing robust growth. In 2023, the market was valued at approximately 535.3 million U.S. dollars and is projected to nearly double, reaching 1.08 billion U.S. dollars by 2030. This growth underscores the increasing importance of pumped storage in addressing the energy storage needs of an increasingly renewable-focused future. The number of new pumped hydropower energy storage projects worldwide in 2022 was 15, which was the highest amount since 2013.Advantages and disadvantages of pumped storage hydropower
Pumped storage offers several benefits that make it an indispensable part of modern energy infrastructure. By rapidly responding to fluctuations in electricity supply and demand, pumped storage is able to facilitate a stable baseline electricity supply for grid stability. As such, it supports the integration of renewable energy sources like wind and solar, which are inherently intermittent, by storing surplus energy for use during periods of low generation. Additionally, pumped storage systems have long operational lifespans, making them cost-effective in the long term.Despite its advantages, the implementation of pumped storage faces several challenges. High initial capital costs and geographical limitations are the primary barriers. Suitable locations with the necessary elevation difference and water resources are not always readily available. Environmental concerns, such as the potential impact on local ecosystems and landscapes, also need to be addressed through careful planning and regulation.
Pumped storage hydropower plays an increasingly important role in ensuring energy security. It provides efficient, large-scale energy storage, making it a key technology for sustainable power grids. With further investments and supportive policies, pumped storage is set to grow, helping to support a more resilient and sustainable global energy system.
