Since the “13th Five-Year Plan”，Henan new energy has achieved leapfrog development，and the effect of green and low-carbon energy transformation is remarkable. With the deepening of the “double carbon” goal，the contradiction between the continued large-scale development of new energy and traditional power supply and grid regulation capacity has become increasingly apparent. Pumped storage，as the most mature technology，the most widely used and economically optimal flexible regulating resources，will play an important role in the development of clean and low-carbon energy transition. Based on the current situation of pumped storage power plant development in Henan Province，a comparative analysis is conducted from three aspects：power efficiency，economic efficiency，coal saving and emission reduction benefits，compared with traditional thermal power and new energy storage，which shows that the comprehensive benefits of building pumped storage power plants are optimal.