Technology
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That's so cool!
This is one of those ideas that in hindsight seem so simple and obvious that it makes one wonder how nobody thought of it prior. Absolutely brilliant.
They have done this before, only instead of using a big weight, they use water. Lookup "Dinorwig Power Station" for a good example.
I read of another it was the same physics but different scenario. I think it was like excess energy moves heavy carts up a hill. When energy is needed, these carts get released and their potential energy from hill and the basic idea of regenerative breaking to repurpose it's kinetic energy.