# Pumped hydro storage: What to track

Will a 621 GW pipeline really turn into plants?

Source page: https://www.materialinsights.org/energy/e_pumped_hydro/tracking/

What this tab covers The attributes worth tracking regularly, with the latest value, the direction of travel and why each matters.

Track whether the very large pipeline turns into built plants, how revenue frameworks evolve, and India's progress against its targets.

| Category | Attribute | Latest | Trend | Why it matters |
|---|---|---|---|---|
| Techno-economic | **LCOS trajectory** | About USD 110/MWh for 1,000 MW, 10 h (DOE/PNNL 2022, 2021 data); USD 130/MWh for 100 MW, 10 h (PNNL 2023)^[3](https://www.energy.gov/sites/default/files/2022-09/2022%20Grid%20Energy%20Storage%20Technology%20Cost%20and%20Performance%20Assessment.pdf)^[5](https://www.pnnl.gov/main/publications/external/technical_reports/PNNL-34458.pdf) | → stable | Mature civil technology with little scope for cost cuts; financing cost drives the result. |
| Technical | **Plant availability and refurbishment (in place of state of health)** | Operating lives over 100 years; uprates such as +320 MW at Bad Creek^[1](https://www.hydropower.org/publications/2025-world-hydropower-outlook) | → stable | No capacity fade; value lies in keeping machines available and modernising old units. |
| Supply chain | **Critical mineral cost and geopolitical concentration** | No critical minerals; build concentrated in China (218 GW under construction, 2025)^[2](https://www.hydropower.org/news/year-of-the-water-battery-global-pumped-storage-capacity-surpasses-200-gw) | → stable | Risk is construction and site supply, not minerals; Chinese build pace sets equipment demand. |
| Market | **Ancillary service market saturation** | Few markets pay for long-duration reserve; GB cap-and-floor minded-to list (June 2026) includes 3.9 GW of pumped hydro^[1](https://www.hydropower.org/publications/2025-world-hydropower-outlook)^[8](https://consult.ofgem.gov.uk/energy-generation/ldes-window-1-minded-to-decision/supporting_documents/window-1-minded-to-decisions-long-duration-electricity-storage-consultationpdf) | ↗ improving | More zero and negative price hours and new capacity or tender schemes are widening revenue. |
| ESG compliance | **Safety and environmental compliance** | 13 projects certified to Hydropower Sustainability Standard (April 2025)^[1](https://www.hydropower.org/publications/2025-world-hydropower-outlook) | ↗ improving | Dam safety and river impacts are the material risks; certification is a useful screen. |
| Climate | **Lifecycle carbon payback period** | No verified figure found in this review^[1](https://www.hydropower.org/publications/2025-world-hydropower-outlook) | → stable | Concrete-heavy build gives a large upfront footprint that is spread over a century of use; ask developers for project lifecycle assessments. |
| Pipeline | **Global pipeline and under construction** | 621 GW pipeline; 243 GW under construction (IHA 2026 Outlook)^[1](https://www.hydropower.org/publications/2025-world-hydropower-outlook)^[7](https://www.hydropower.org/outlook) | ↗ improving | Conversion of pipeline into operating capacity is the key growth signal; IHA reported over 105 GW under construction a year earlier, so the jump partly reflects wider counting of approved Chinese projects and should be read with care. |
| Policy | **India pumped storage build-out** | About 3.5-5 GW installed; 4.5 GW under construction (2025 report)^[1](https://www.hydropower.org/publications/2025-world-hydropower-outlook)^[2](https://www.hydropower.org/news/year-of-the-water-battery-global-pumped-storage-capacity-surpasses-200-gw) | ↗ improving | India's targets imply a several-fold increase; delivery against them shows bankability. |

#### Sources

1. [2025 World Hydropower Outlook](https://www.hydropower.org/publications/2025-world-hydropower-outlook) International Hydropower Association, 2025
2. [Year of the water battery: global pumped storage capacity surpasses 200 GW](https://www.hydropower.org/news/year-of-the-water-battery-global-pumped-storage-capacity-surpasses-200-gw) International Hydropower Association, 2026
3. [2022 Grid Energy Storage Technology Cost and Performance Assessment](https://www.energy.gov/sites/default/files/2022-09/2022%20Grid%20Energy%20Storage%20Technology%20Cost%20and%20Performance%20Assessment.pdf) US Department of Energy / Pacific Northwest National Laboratory, 2022
4. [Emerging Technologies Review: Pumped Storage Hydropower (PNNL-34458)](https://www.pnnl.gov/main/publications/external/technical_reports/PNNL-34458.pdf) Pacific Northwest National Laboratory, 2023
5. [2026 World Hydropower Outlook](https://www.hydropower.org/outlook) International Hydropower Association, 2026
6. [Long Duration Electricity Storage cap and floor Window 1: minded-to decisions (consultation)](https://consult.ofgem.gov.uk/energy-generation/ldes-window-1-minded-to-decision/supporting_documents/window-1-minded-to-decisions-long-duration-electricity-storage-consultationpdf) Ofgem, 2026

## Other sections

- [Summary](https://www.materialinsights.org/energy/e_pumped_hydro/index.md)
- [Overview](https://www.materialinsights.org/energy/e_pumped_hydro/overview/index.md)
- [Correlation](https://www.materialinsights.org/energy/e_pumped_hydro/correlation/index.md)
- [Science and technology](https://www.materialinsights.org/energy/e_pumped_hydro/sg-sci/index.md)
- [Engineering and performance](https://www.materialinsights.org/energy/e_pumped_hydro/sg-eng/index.md)
- [Economics](https://www.materialinsights.org/energy/e_pumped_hydro/sg-econ/index.md)
- [Impact and additionality](https://www.materialinsights.org/energy/e_pumped_hydro/sg-impact/index.md)
- [Relationships](https://www.materialinsights.org/energy/e_pumped_hydro/links/index.md)