Developing detailed step-by-step valuation guidance to help electric utilities, plant developers, regulatory bodies, and other stakeholders in their assessments of the value of pumped storage hydropower (PSH) projects. 

Argonne is leading a multi-lab team for the U.S. Department of Energy’s (DOE’s) Water Power Technologies Office (WPTO) to develop valuation guidance to account for all grid services and contributions from pumped storage hydropower (PSH) plants. Understanding the true value that PSH technology brings to the grid will be a big step forward, removing an obstacle that is faced by PSH developers.

Developing objective, comprehensive valuation guidance for PSH plants will provide consistent, repeatable methods to value PSH projects, while helping with decision-making on investments. Working with industry will help refine the valuation framework, and test underlying methodologies.

Argonne is the Project Lead, with researchers from Idaho National Laboratory, National Renewable Energy Laboratory, Oak Ridge National Laboratory, and Pacific Northwest National Laboratory. The multi-lab team is collaborating with two industry participants and performing techno-economic studies for their proposed PSH projects. Also, the project is guided by a Technical Advisory Group consisting of prominent industry experts and other stakeholders.

Featured Publications

• Pumped Storage Hydropower Valuation Tool
• Pumped Storage Hydropower Valuation Guidebook – Final Report, March 14, 2021
• 2019-2020 Water Power Technologies Office Accomplishments
• Hydropower Value Study: Current Status and Future Opportunities
• Developing Valuation Guidance for Pumped Storage Projects
• Pumped Storage Projects Selected for Techno-Economic Studies - December 3, 2018
• How can pumped storage hydropower be valued properly? - June 25, 2018
  • Vladimir Koritarov (Argonne National Laboratory) and Rebecca O’Neil (U.S. Department of Energy)