Pumped Hydro Storage Market Is Expected to Be the Fastest-Growing Segment in 2023
Worldwide hydropower development grew steadily, with an estimated 22.448 GW of new capacity added. This includes 1.8 GW of pumped hydro storage (PHS), thereby bringing the world's total installed hydro capacity to 1,270 GW. With countries across the globe focusing on energy storage, pumped hydro storage has become the most sought after energy storage solution. Moreover, pumped hydro storage is now the only energy storage solution feasible to be deployed at a very large scale. Global initiatives towards harnessing renewable...
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