Results for tag: "Pumped Storage"

Pumped Storage is a form of renewable energy that uses electricity to pump water from a lower reservoir to an upper reservoir. During periods of low electricity demand, excess electricity is used to pump water to the upper reservoir. When electricity demand is high, the water is released back to the lower reservoir, generating electricity through a turbine. This process is known as ‘load balancing’, as it helps to balance the supply and demand of electricity. Pumped Storage is a cost-effective way to store energy and is often used in combination with other renewable energy sources, such as wind and solar. It is also used to provide ancillary services, such as frequency regulation and voltage control. Pumped Storage is a growing market, with many countries investing in the technology. In Europe, the European Commission has set a target of 300 GW of Pumped Storage capacity by 2050. Companies in the Pumped Storage market include Voith Hydro, Andritz Hydro, GE Renewable Energy, and Siemens Gamesa Renewable Energy. Show Less Read more