By Sonia Shenoy | Prashant Nair Aug 18, 2023 5:31:07 PM IST (Published)
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The demand for power is rising steadily, with the economy doing well. This has resulted in companies scrambling to either hike capacities or expand on the renewable front — with pumped storage hydropower being an area of interest. Before we get into how this technology works, let us look at how it can benefit the sector?
How will pumped storage hydropower benefit the power sector?
According to Sumit Kishore, Executive Director, Capital Goods, Power and Infrastructure, Axis Capital, India's peak electricity demand reached a fresh record high of around 233 GW earlier this week. He said the average electricity exchange prices are hovering around Rs 9 on an average for the day. Vikram V, VP and Sector Head, Corp Ratings, ICRA, said the overall electricity demand this fiscal is expected to grow 5-6 percent.
There are two peaks of power demand daily — morning and evening. The morning peak is met by solar energy, but managing the evening peak is becoming fairly challenging and is likely to remain so for the next few years, Kishore said.
"There is a growing realisation in the power sector that intermittent renewable installed capacity alone could cross or come close to India's peak demand in the next 3-4 years. To manage these grid intermittency issues that this may trigger, given that we have a thermal-heavy generation mix in India, there is a very big push for hybrid wind, solar, as well as renewable electricity storage solutions," Kishore added.
What is pumped storage hydropower and how does it work?
Pumped storage hydropower (PSH) is a scalable battery storage solution which helps in dealing with grid intermittency issues, mainly the evening peak deficit dilemma that the power sector finds itself in.
PSH is a configuration of two water reservoirs at different elevations that can generate power as water moves from the upper to the lower reservoir, passing through a turbine. This is known as the batteries discharge phase. The now pumped storage hydro also requires the water to be pumped back into the upper reservoir to recharge the battery. The recharging process requires green power — solar or wind power — during off-peak hours, which can recharge the battery. "During peak hours, you can discharge the battery and benefit from this whole operation," Kishore said.
Pumped storage hydropower technology — cost, potential, India's target
Also Read: India open to allowing carbon credits transfer to nations that buy green hydrogen from us: RK Singh
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