How does pumped storage affect the cost of renewable energy?
Pumped storage is outdated, ineffective and can easily triple the cost of developing renewable energy. A pumped storage plant is more expensive to build than the wind or solar power plant it stores energy for. Over 25% of the energy used in the storage process is wasted. For example, adding the proposed South Slope Pumped Storage plant to a 360MW wind energy generation project increases its cost from $0.80 billion to $2.44 billion.