Contemporarily, the rapid development of different technology keeps increasing demands of different kinds of energy (especially the electric energy), which spontaneously brings serious threats to the natural environment in modern society. To achieve the higher efficiency and yield of electricity and overcome various challenges in electricity generation, multifarious methods and techniques have been introduced around the world. In this paper, one of the typical techniques named pumped storage hydroelectricity is introduced and detailly analyzed with its basic definition, sustainability goals, technology feasibilities, four main quantitative metrics and the corresponding future predictions. Main methods for analysis include the graphical and comparative analyses with some other typical energy generating and storage techniques. Based on the analysis, pumped storage hydroelectricity technology is effective in reducing carbon footprints as well as energy and resource waste, and possesses properties and characteristics of high efficiencies, low energy densities, relatively long response times and long lifespans. This paper provides a broader picture of the current development status of the pumped storage hydroelectricity technology and sheds light on the applications and future trends of this conventional and mature technique of energy storage.