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Re:Malta – Alphabet X’s latest grid-scale energy storage tec... by wongarsu on Tuesday August 01, 2017 @02:48PM (#14904002)
At least in Germany, that's exactly how most pumped hydro storage is operated, and it seems profitable. So probably about that cheap (depending on the energy market).

Construction costs for pumped hydro storage seem to be in the range of 500$/KW.

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