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I've realised I had somehow assumed that pushing an empty 1m³ box 100 metres under the water would need more work than lifting 1m³ of water 100m into the air!Am I now right in thinking, in fact, they represent more or less the same work done?This type of storage may *just* be useful in (non-grid) places by deep water with no high land. Even then it is probably going to require a suitable undersea natural cave system, where air can be pumped against the pressure of water in a large space.