The U.S. Department of Energy (DOE) Water Power Technologies Office (WPTO) invites you to share your ideas to reduce the time, cost, and risk from concept to commissioning, excluding permitting, for pumped-storage hydropower (PSH). Finalists will receive vouchers for up to 50 hours of support from one of four DOE national laboratories to prepare for a pitch contest which will result in up to 3 winners and up to $550,000 of combined cash prizes and voucher support.
The Furthering Advancements to Shorten Time (FAST) Commissioning for Pumped-Storage Hydropower Prize aims to attract ideas to reduce the time, cost, and risk required to commission PSH projects. This is the first prize of its kind and is structured to support anyone with a great idea and the motivation to develop their idea into a full business concept.
Today’s electricity system is changing rapidly and hydropower and PSH have an essential role in contributing to the resilience, reliability, and affordability of the U.S. power system. PSH is by far the largest source of energy storage on the grid, and it will play a key role in supporting increased integration of variable generation resources. But large capital investments and long lead times for PSH commissioning are deterrents to would-be developers and utilities.
The goal of the prize is to catalyze new solutions, designs, and strategies to accelerate PSH development by reducing the time, cost and risk to commission PSH. Ideas could include innovative PSH ideas, new layouts, creative construction management, improved construction equipment, application of advanced manufacturing, or standardization of equipment.