System for energy storage and electrical power generation

A system for energy storage and electricity generation, comprising:

• an energy storage subsystem including at least one air storage vessel arranged in a borehole made in the ground, and configured to store energy in the form of compressed air, said at least one air storage vessel being surrounded by a compacted and thermally isolated filling material filling a space between walls of storage vessel and walls of the borehole to maintain the compressed air during storage at a temperature greater than a temperature of ambient air in the atmosphere;
• and
• an electricity generation subsystem including:
• an airlift pumping system pneumatically coupled to said at least one air storage vessel of the energy storage subsystem, and
• a hydro-electric power system driven by the airlift pumping system, and configured to produce electricity by utilizing the compressed air stored in the energy storage subsystem at the temperature greater than the temperature of ambient air in the atmosphere.