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A type of hydroelectric energy storage utilised by electric power networks for load balancing is pumped-storage hydroelectricity, often known as pumped hydroelectric energy storage (PHES) or PSH.
The process stores energy in the form of water’s gravitational potential energy, which is pumped from a reservoir at a lower height to one at a higher elevation.
The pumps are often run on cheap surplus off-peak electric power. The stored water is released through turbines during times of high electrical demand to generate electricity.
The method boosts revenue by selling more electricity during periods of peak demand, when electricity prices are highest, even if the pumping process’ losses make the plant a net energy consumer overall.
The Global Pumped hydroelectric energy storage market accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2023 to 2030.
A new pumped hydro storage technology that is more widely deployable and less expensive than conventional pumped hydro solutions has been developed by Quidnet Energy.
Long considered a feasible solution for long-term energy storage, pumped hydro has only just begun to see widespread use due to prices and a requirement for access to elevated terrain. These restrictions are addressed by the company’s innovative geomechanical pumped storage.
The idea behind the Quidnet method is to utilise electrical power during times of high supply to pump water downward (as opposed to upward as in conventional systems) into the earth for pressurised storage in spaces between rock layers.
This pool of pressurised water can then be utilised to power electricity-generating turbines during times when there is a shortage of power. A closed-loop water system is used to repeat the procedure as required. The straightforward concept is to store energy by using ground pressure rather than gravity.
The Quidnet method employs standard drilling techniques and off-the-shelf hydroelectric machinery to help keep expenses under control.
With the support of the ARPA-E grant, Quidnet will be able to complete its project with CPS Energy in San Antonio, Texas, to grow its GPS installation to a 1 MW/10 MWh commercial system that will be able to give CPS Energy long-duration energy storage for up to 10 hours. Quidnet Energy creates technologies and products to aid in the switch to low-carbon energy around the world.
