Major power firm EnergyAustralia is studying the feasibility of building a huge pumped hydroelectric energy storage project in the Spencer Gulf of South Australia.
The cost of lithium-ion batteries for energy storage declined 65% in five years between 2010 and 2015, while battery storage’s use for electricity could hit 250GW by 2030, from just 1GW today, according to the International Renewable Energy Agency (IRENA).
US-based power firm Duke Energy plans to increase the energy storage capacity of its Bad Creek pumped storage hydroelectric station by 200MW between the years 2021 and 2024.