Promoting Closed-Loop Pumped Storage Hydropower Act
- Rep. Morgan Griffith (R-Va.)
- Passed by House 12/12/17
WHAT IT DOES
H.R. 2880 would streamline the federal licensing process for pumped storage hydropower facilities.
WHY WE LIKE IT
These facilities make up the vast majority of U.S. electricity storage technologies, which are crucial as more intermittent renewable energy is connected to the power grid.
A 2016 Department of Energy report found the economic potential for pumped hydropower to exceed 35 GW. Tapping this potential by 2050 is unlikely to occur without regulatory reforms: a single pumped storage hydropower project can exceed $1 billion and take several years to permit. Streamlining the regulatory process would improve investor certainty and encourage more market-driven investments.