Direct Economic Contributions
Ontario’s proposed pumped storage project is projected to generate net ratepayer savings of $7.8B–$30.0B CAD across scenarios by 2050, alongside 490,000–800,000 tonnes/year of CO₂ reductions. The analysis emphasized enhanced cross-border hydroelectric imports to amplify economic value and emissions reductions further.
UK pumped storage projects show sustained local impacts:
- Annual contributions: £13 million gross value added (GVA) and 190 local jobs from existing facilities.
- Expansion potential: Increasing capacity to 15GW by 2050 could generate £79–89 million/year GVA and 1,080–1,200 annual jobs in local communities, with £19–21 billion in total investment.
Ancillary Benefits
A distributed pumped hydro case study highlighted improved community acceptance through alternative livelihood opportunities linked to energy infrastructure, though specific financial metrics were not detailed.
Broader Systemic Impacts
- Grid stability: Pumped storage enhances renewable integration, reducing reliance on fossil fuels and associated costs.
- Long-term employment: UK projections estimate 228,700–253,700 job-years during construction and operation phases.
These examples underscore pumped hydro’s dual role in driving local economic growth and enabling clean energy transitions.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/are-there-any-case-studies-showing-the-economic-impact-of-pumped-hydroelectric-facilities-on-local-economies/
