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The transition to clean energy is well underway and there is a lot of interesting news about the growing deployment of renewable energy solutions such as solar power. However, as more of these variable renewable energies are connected to the power grid, the need for stable and flexible renewable power and storage to balance supply and demand is increasing.
One potential solution is hydropower. Hydropower has long been proven to be able to meet that need, providing 96% of the country’s utility-scale energy storage capacity. In fact, hydropower’s long-standing reputation as a reliable source of energy and storage may be one reason why people often think, ironically, that they are “running out” of hydropower investment opportunities. Yes, but that’s not really the case.
The Power Creek Dam project in Cordova, Alaska, includes a hydroelectric power plant with a total generating capacity of 6 megawatts, located 11 miles east of Cordova. Photo by Levi Rowland, Edited by Deanna Kendall, Released by Thomas Tapp, Seed Media
Hydropower, including pumped storage hydropower (PSH), is far less exploited and still has significant growth potential, especially for small and medium-sized projects (or those producing up to 30 MW of electricity). In fact, less than 3% of the more than 90,000 dams in the United States produce electricity, and the thousands of dams that do not produce electricity present a great investment opportunity. Additionally, dams that currently generate electricity are often updated to increase capacity. There are also millions of miles of waterways, including rivers and canals, that can be used for in-stream hydropower generation.
A valve is being replaced at the Morning Glory spillway in Snohomish County, Washington. Photo by Christa Rasmussen
A new report, “Hydropower Investments and Public-Private Ecosystem Assessments,” developed by the National Renewable Energy Laboratory (NREL) provides a comprehensive analysis of both the risks and opportunities of investing in small and medium-sized hydropower and PSH projects. There is. Key findings from this study, which was funded by the U.S. Department of Energy’s Water Power Technology Office (WPTO), include:
- Medium-sized projects present significant opportunities for low-impact hydropower development. The current medium-sized project pipeline includes projects with a total capacity of more than 1 GW, including capacity additions, non-power dam rehabilitation, in-conduit hydropower, PSH, new river reach developments, and multiple It includes hybrid projects that combine renewable technologies. .
- New innovations and the variety of locations where hydropower can be developed offer potential opportunities for future investment. The areas of most interest are:
- modularconductorhydropower: Over the past decade, developers have begun designing and implementing small modular conduit systems that can be manufactured offsite and assembled onsite. This approach reduces construction costs, shortens project schedules, and increases flexibility for scaling up hydropower systems in the future. One example featured in the report of a company promoting modular flume hydropower is Emrgy, which has raised millions of dollars in private investment.
- Powerless dam resources: Approximately 97% of U.S. dams lack power generation infrastructure, making non-power dams an attractive development opportunity with potential capacity of more than 2 gigawatts in the medium-sized range.
- Hybrid plant configuration:Using hydropower in a hybrid configuration with other renewable energies and battery storage can provide ancillary services such as providing power during peak demand and the ability to quickly adjust to ensure grid reliability. By doing so, you can create new sources of revenue.
- Closed Loop PSH Innovation: A closed-loop PSH system has two reservoirs that are not connected to a naturally flowing water facility, such as a river. These projects make up the bulk of his ongoing PSH projects because they can provide location flexibility. These projects will be the first closed-loop facilities in the United States.
- Investors surveyed for this study generally expressed the greatest interest in supporting capacity additions to existing facilities. With a connection to the grid already established, these existing facilities offer significant opportunities to increase clean energy production.
To learn more about opportunities to increase investment in hydropower and PSH, read the full article, originally published by WPTO. You can also explore the new Hydropower Investment Status report in more detail.
Learn more about NREL’s hydropower research. Subscribe to the NREL Hydro Newsletter. the currentso you don’t miss any hydropower updates.
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