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Re:Shipping containers of Li-ion batteries in the power grid by cryptorchidism on Friday January 07, 2011 @12:01PM (#2080093)
Well yes, and that's what the system you mentioned does. In addition to pumped hydro, there are schemes for pumping air into underground caverns.

You need too much volume to make artificial tanks cost-effective. That's why natural formations are used.

Re:Shipping containers of Li-ion batteries in the power grid by chopsueyar on Friday January 07, 2011 @12:26PM (#2080183)
That pneumatic system sounds interesting. Do you have any links, por favor?