Visiongain’ has launched a new energy report The Pumped Hydro Storage (PHS) Market Report 2017-2027: Forecasts By Type (Closed-Loop, Open Loop, Innovative) Analysis of Project Location, Capacity, installation Type, Commissioning Date, Plus CAPEX & Capacity Forecasts, Company Profiles and Patterns of Innovation In Hydropower Energy Storage Technologies (EST)
Pumped hydro storage (PHS) is the oldest, largest and most mature and proven energy storage technology, with an important role in both power supply and transmission and distribution systems. PHS is an electrochemical storage method, which relies on the use of a height differential between two storage reservoirs. PHS installations use cheap, off-peak or abundant electricity to pump water from a lower to an upper reservoir and release it again during periods of peak-pricing or high demand. To generate electricity, water is released to run through turbines powering generators. The PHS sector is driven by a relatively low capital cost; the technology’s proven reliability and its status as the main proven bulk storage technology.
The visiongain report analyst commented “The global pumped hydro storage market is in the midst of a period of unprecedented growth and development. After decades of dominance, the Japanese market will be overtaken by a relative newcomer – China. The rapid increase in the penetration of RES in generation systems in a range of developed countries has prompted a revival in the PHS sector globally and will lead to the development of new PHS projects in several countries whose PHS markets have been stagnant for years, if not decades. Ongoing measures toward grid stability coupled with the rapid expansion of transmission and distribution network will drive the pump hydro growth. Increasing infrastructure spending coupled with, the revival of economic growth across developing economies will further embellish the market growth.”
Leading companies featured in the report who are developing Waste-to-Energy (WtE) facilities include Voith Group, Dongfang Electric Corporation, Alstom, Toshiba Corporation, Statkraft, Andritz Group, ABB Group, General Electric, Hitachi Ltd & Enel SpA.
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