Yeah, if you do the math, it turns out that you need impractically large weights lifted to unreasonable height. Like, suppose you’re lifting 100 ton weight 100 meters high. That’s a rather large and heavyweight system. How much energy you can store this way? Less than $5 worth of electricity, as it turn out.

This is basically the same as pumped water storage, but instead of immense amount of water you can pump between very large reservoirs, you’re limited to one solid weight that’s too light to store nontrivial amount of energy, but heavy enough to be significant problem from engineering perspective. It just doesn’t make practical sense.