Rapid We need Mature and Large Scale Energy Storage Solutions

There are several energy storage technologies under development or on the market today, all with different attributes and maturity level. Electrical energy storage systems can be divided into mechanical, chemical batteries, and electromagnetic solutions. Except for traditional pumped hydro storage, the challenge with these technologies are that some of them are associated with a negative impact on the environment, or that they are not proven and mature. Another drawback is that there are only a few that can provide scale with long discharge times combined with fast response times. Pumps and turbines have been on the market for decades, and in fact the first pumped hydro plant was deployed already in 1929. 

Traditional Pumped Hydro Power is the only technology having all the attributes of maturity, significant discharge times, a high power-rating, fast response times, a long lifespan, and a high round-efficiency of 70-80 %. With all these attributes traditional pumped hydro storage systems provides the lowest levelized cost of storage. However, traditional Pumped Hydro deployments require natural height differences in the environment, and also has a high environmental impact as new open-pit dams need to be constructed.

Mine storage takes all the advantages of Pumped Hydro Power and applies it in underground mines, thus taking unused mines and giving them a new and positive purpose!