On April 8, 2019, the U.S. Department of Energy (DOE) Office of Energy Efficiency & Renewable Energy (EERE) announced a new prize competition to support and accelerate the development of pumped storage hydropower (PSH). The prize, titled Furthering Advancements to Shorten Time (FAST) Commissioning for Pumped Storage Hydropower (PSH), seeks innovative solutions and technologies that can assist PSH developers facing non-regulatory challenges. It would also support DOE’s goal to reduce PSH time commission from ten years to five. FAST PSH will provide winners with cash and in-kind laboratory support prizes. Prize competition concepts could include standardization of equipment, application of advanced manufacturing, new layouts, creative construction management, or improved construction equipment. In the first stage of the competition, ten finalists will be selected for 50 hours of support over three months from the FAST national laboratory partners. This initial stage will be in preparation for a pitch contest with up to $950,000 of combined cash prizes and vouchers support, and up to three winners. FAST PSH is part of a larger effort conducted by DOE in partnership with Argonne National Laboratory, National Renewable Energy Laboratory, Oak Ridge National Laboratory, and Pacific Northwest Laboratory. Part of this effort also involves the development of a baseline framework to assist industry and understand costs, time, and risk burdens associated with PSH. The first stage of the prize competition closes on May 24, 2019.