The scope of work for the study has two main components: (1) development of vendorneutral dynamic simulation models for advanced pumped storage hydro (PSH) technologies, and (2) production cost and revenue analyses to assess the value of PSH in the power system. Throughout the study, the project team was supported and guided by an Advisory Working Group (AWG) consisting of more than 30 experts from a diverse group of organizations including the hydropower industry and equipment manufacturers, electric power utilities and regional electricity market operators, hydro engineering and consulting companies, national laboratories, universities and research institutions, hydropower industry associations, and government and regulatory agencies.The development of vendor-neutral models was carried out by the Advanced Technology Modeling Task Force Group (TFG) and was led by experts from Siemens PTI with the participation of experts from other project team members. First, the Advanced Technology Modeling TFG reviewed and prepared a summary of the existing dynamic models of hydro and PSH plants that are currently in use in the United States. This is published in the report Review of Existing Hydroelectric Turbine-Governor Simulation Models. The review served to determine the needs for improvements of existing models and for the development of new ones.While it was found that the existing dynamic models for conventional hydro and PSH plants allow for accurate representation and modeling of these technologies, it was concluded that there is a need for the development of dynamic models for two PSH technologies for which there were no existing models available in the United States at the time of the study. Those two technologies are (1) adjustable speed PSH plants employing doubly-fed induction machines (DFIM), and (2) We are all intimately familiar with small energy storage devices; we use batteries of various types in our cell phones and other electronic devices as well as the more traditional batterypowered devices such as flashlights and radios. However, storing large amounts of energy, on the scale that would be useful for a utility-scale power system, has been a much more challenging task. While several new technologies are being developed, pumped storage hydro is the most widely employed method available for storing large amounts of energy to supply electricity. The basic concept of pumped storage is quite simple: electricity is used to pump water up to an elevated reservoir, where the energy can be stored as potential energy until it is needed; then electricity is generated by letting the water flow back down thorough a turbine/generator. Of course, since there is a loss of energy due to the pumping and generating cycle (as low as 10% for some new plants), there must be an economic incentive for the storage, such as a variation in electricity prices between times of pumping and generating.Energy usage is greatly influenced by the normal schedule of people (high during the day when people are most active and low at nigh...