It is reported that 11 countries including Australia, the United States and India will jointly promote cooperation in pumped storage technology to facilitate wind and solar power generation. Pumped storage is currently the world's largest electricity storage method. Recently, the International Cooperation Forum for Pumped Storage Power Generation was established. Its members include many top energy companies, such as GE Renewable Energy, EDF, Tasmanian Hydropower, as well as world-renowned financial institutions led by the World Bank. The members will exchange information on technological progress and policy in order to remove obstacles to the promotion of major programs. According to statistics, the new installed pumped storage generation capacity was 304 million watts, and the newly installed capacity for electricity storage in other ways was 3.3 billion watts. Other forms of storage, mainly lithium-ion batteries, are expected to add another 4.6 billion watts in 2020, according to Bloomberg New Energy Finance. At the same time, there are several large-scale pumped-storage power plants under construction in the world, and it is expected that the installed capacity of pumped-storage power plants will increase significantly this year.