Germany has too many solar panels, and it's pushed energy prices into negative
markets.businessinsider.com
markets.businessinsider.com
The use, twice!, of the phrase "biiiig, cheeeap grid batteries" in a research report would make me doubt their credentials.
Plus it's just a weirdly rephrased take on the duck curve that people have talked about for over a decade. Here's a 2017 presentation on how to respond to it.
https://www.energy.gov/eere/articles/confronting-duck-curve-...
Currently, Germany is averaging around 6.4 GW of imports and 3.2 GW of exports. During production spikes caused by e.g. wind or solar power, the price quickly drops in the whole region, sometimes into the negative in order to help stabilize the grid frequency.
The formula for potential energy is mgh, where m = mass, g = gravitational acceleration (approx 10 m/s2) and h is the height.
Let's say the vertical tunnel you want to build is 200 meters deep and 1m by 1m. Half of the shaft is rock, it's the thing you lift and lower. That's 100 m by 1m by 1m, which means 100 m3. You use lead, which has a density of about 11 tons/m3. Let's round to 1000 tons, or one million kg. Moving this column of lead from the lowest point to the highest requires the energy of mgh = 1 million times 10 times 100 = 1 billion Joules. Divide that by 3600 and you get about 280 kWh. For comparison the battery of a Tesla S has a capacity of 100 kWh.
This one facility helps stabilize an entire xxGW US region's grid.
[1] https://en.wikipedia.org/wiki/Raccoon_Mountain_Pumped-Storag...