[gns24]

That sounds massively expensive. Being very generous and assuming that the piston is the length of the hole and can rise out completely, then the energy storage is still only a few times that required to pump all the water out of the hole. It doesn't start to compare to the volume behind a hydro dam (which may then have a large vertical drop to the generator further down-river), but is still much more complex.

Another proposed idea for places that have deep seas or lakes is pumping air down into a storage at the bottom of the water. This storage can even being a flexible plastic - there isn't any high loading on it because the pressure balances out. The issue with that tech is that it's not that efficient, as compressing the air going down generates a lot of heat - some of that could potentially be recovered, but there's a trade-off with simplicity. Also if the containment fails then a lot of air bubbles to the surface, potentially sinking any ship on the surface at the time.

[ErikCorry]

As ben_w points out elsewhere in the thread, renewables are so cheap that losses matter less than you think.

Put another way: Today in Denmark, electricity is free. Literally 0 cents (øre) before taxes and transport fees (of about 5 cents, 36 øre). Just before Christmas it was about $1 (700 øre) per kWh. There's no inefficiency where it would be bad to store energy with swings like that.