Two shortcomings experienced with renewable energy is lack of grid storage and outdated transmission infrastructure. This one helps address the grid storage side.
Pumped Hydro Compressed Air Energy Storage (PHCAES) is a new system that can deliver stored energy at two to three cents per kilowatt-hour. This cost, far lower than that of lithium batteries, is similar to Pumped Hydro Energy Storage (PHES), a proven technology. Although it has many similarities to PHES, PHCAES has significant advantages over PHES — including lower capital costs and significantly less land space required.
Like PHES, PHCAES uses a ground-level water reservoir and a power plant. The difference is in the pressure reservoirs. While PHES uses a high elevation water reservoir to create a water pressure head, PHCAES uses a depleted underground well (gas/oil/water) that contains a reservoir of water along with high-pressure air to create its water pressure head. Both PHES and PHCAES pump/reverse water flow between the surface water reservoir and their respective high- pressure head reservoirs through a power plant to either store or produce electric power.
See New, Cheap Electric Energy Storage System (Like Pumped Hydro, But Subterranean!)
Pumped Hydro Compressed Air Energy Storage (PHCAES) is a new system that can deliver stored energy at two to three cents per kilowatt-hour. This cost, far lower than that of lithium batteries, is similar to Pumped Hydro Energy Storage (PHES), a proven technology. Although it has many similarities to PHES, PHCAES has significant advantages over
source https://gadgeteer.co.za/new-cheap-electric-energy-storage-system-pumped-hydro-subterranean
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