Subsidies for pumped storage power stations

Are underground pumped storage power stations sustainable?

Underground pumped storage power stations (UPSPS) using abandoned coal mines efficiently utilize the coal mine space and promote renewable energy applications. This paper introduces a novel framework to evaluate the UPSPS regional development potential in the Yellow River Basin (YRB) from the perspective of sustainable development.

What is a pumped storage hydropower facility?

Pumped storage hydropower facilities use water and gravity to create and store renewable energy. Learn more about this energy storage technology and how it can help support the 100% clean energy grid the country—and the world—needs.

What is pumped storage power station (PSPS)?

The pumped storage power station (PSPS) is a special power source that has flexible operation modes and multiple functions. With the rapid economic development in China, the energy demand and the peak-valley load difference of the power grid are continuing to increase.

What is the regional development potential of underground pumped storage power stations?

The regional development potential of underground pumped storage power stations (UPSPS) is defined. A novel framework to evaluate the regional development potential of UPSPS is constructed from a sustainable perspective. The decision-making process is based on the four-quadrant method incorporating bubble diagrams.

How much does a pumped storage power station cost?

At present, the investment cost of a pumped storage power station is about 878–937 million USD/GW, which is far higher than that of a battery storage power station, and is closely related to location. For battery energy storage, the initial cost mainly depends on different materials.

What is the initial cost of an energy storage power station?

In general, the initial cost of an energy storage power station mainly includes the investment cost of the energy storage unit, power conversion unit, and other investment costs such as labor and service costs for initial installation. The specific calculations of these three parts used the formulas in Appendix 2 of literature [ 29 ].