Podcast Summary
Revival of Pumped Storage Hydropower: The Inflation Reduction Act provides tax credits for pumped storage hydropower, an old but reliable energy storage system, to store renewable energy and meet grid demands.
Pumped storage hydropower, an old technology, is experiencing a resurgence due to its potential to store large amounts of renewable energy for later use. This technology, which involves pumping water uphill to be released and generate power when needed, is getting a boost from tax credits in the Inflation Reduction Act. With the increasing need to decarbonize the electric grid and the variability of renewable energy sources like solar and wind, pumped storage hydropower offers a solution as a reliable energy storage system. Unlike lithium-ion batteries, which can only store energy on a smaller scale, pumped storage hydropower can supply a city's energy needs for a day or more. This makes it an attractive energy storage option for grid operators to ensure a consistent power supply and meet the demands of the grid during peak hours or when renewable energy production is low.
Renewable energy sources' reliability during winter: Pumped hydro storage, though expensive to build, offers long-term affordability and reliability in energy storage, making it a crucial component in transition to renewable energy.
Renewable energy sources, such as solar and wind, can provide reliable power even during rainy winter days, which is a significant challenge due to the longer-lasting peak energy demand. While batteries have been effective in handling the late afternoon peak in places like California, they become increasingly expensive as more are added to store energy for an entire day. Pumped hydro storage, although expensive to build, offers lower operating costs over the long term. This technology involves storing water in a higher reservoir and releasing it through turbines to generate electricity when needed. The high upfront costs are offset by the durability and efficiency of these plants, some of which have been in operation for over a century. I had the opportunity to visit a developing pumped hydro storage facility in Goldendale, Washington, which is situated on the Columbia River. Despite the substantial investment required to construct these facilities, their long-term affordability and reliability make them a crucial component in the transition to renewable energy.
Yakima Nation opposes hydropower project due to cultural significance: Despite potential benefits, large-scale infrastructure projects face significant challenges due to complex regulations and cultural opposition, as seen in the Yakima Nation's resistance to a hydropower project in Washington.
While Rye Development's Goldendale hydropower project in Washington could potentially provide Seattle with 12 hours of on-demand renewable power, its development faces significant opposition from the Yakima Nation due to the project's proposed location on land considered sacred to them. The site, known as Pushpum in the Yakima language, holds deep emotional and historical significance for the tribe, with ties to their creation stories, seasonal rituals, and archaeological sites. The biggest hurdle to the project's development, according to freelance journalist Robert Kunzig, is the general challenge of building large-scale infrastructure projects in the US that yield long-term benefits. The complex regulatory process and the need for significant upfront investment make it difficult to bring such projects to fruition. The Yakima Nation's opposition adds another layer of complexity to the situation, underscoring the importance of balancing energy needs with cultural and historical considerations.
Deregulation and energy storage challenges: Deregulation leads to short-term focus in electricity market, making long-term investments uncertain due to emerging energy storage technologies and competing technologies. New battery technologies like sand batteries, iron air batteries, and lithium-ion batteries are being explored, but mining challenges and controversies persist.
The deregulated electricity market in certain parts of the country focuses more on short-term goals rather than long-term investments due to its volatile nature and the emergence of new energy technologies. For instance, utilities face challenges in committing to building expensive, long-lasting power plants when there are uncertainties about the future of energy storage and competing technologies. Meanwhile, researchers and companies are exploring new battery technologies like sand batteries, iron air batteries, and lithium-ion batteries, which could potentially impact the future of energy storage. For example, Finland installed the world's first working sand battery in 2020, and there are controversies surrounding the mining of lithium and other minerals needed for energy storage. For kids, understanding the complexities of money and the world can be challenging. Million Bazillion, a podcast from Marketplace, aims to help kids explore these topics through exciting adventures and answering their awkward and complex questions about money. Each week, they tackle inquiries like "What is a college account and how does it work?" and "Why does the US have so much gold in Fort Knox?" Listen to Million Bazillion wherever you get your podcasts to help your kids make sense of the world around them.
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