Counting the Australian Assets of Pumped Storage

It's largely about topography; the photo certainly looks good, but how widespread is this in NSW?

Quite widespread. Trouble is it's all National Parks or built on where it's not. eg Sydney has perfect terrain but....

Messing with catchments and water courses is frowned upon by the green lobby in Oz.

Y'all need to round up these Greenies and plop 'em somewhere without food, clean water, energy (in any form) nor any modern conveniences. Tell them, furthermore, that they aren't allowed to breathe (CO2 emissions) nor pee & poop (toxic waste), nor talk (noise pollution).
An ideal world. If they don't thank y'all for this magnanimous act of concern for the environment, shoot 'em. With lead-free ammo.
I hear Greenies make good fertilizer.

usually the net out put of a pumped storage hydro power plant is always negative, since it consumes more power to pump back water than it generates.

Water recycling without losing to tail race down stream after power generation, is the best accomplishment of PSHP systems.

Days are not far of that, instant recycling of water from lower dam to upper dam will no more a myth.

Sustainable water pumping is the ultimate solution.

Using renewable energy to pump the water to elevation is a good idea. That can help to optimize the energy by placing it in storage when actual energy demands are low. In areas where there is a shortage of water, these systems can make even more sense. During periods when there is optimum rainfall/recharge, the storage can assist in assuring an adequate supply at low periods of recharge. The fact that you can generate energy while using the water supply gives a double dip bonus of the stored water. Water supply is as important in many areas as energy development. Storage is a key to resolving such problems.

Pumped storage is a mature method of energy storage in expanded use world wide; operating with heads from a few hundred feet to several thousand feet.

For large scale energy storage it is by far the most cost effective.