Storage technologies are an increasingly crucial element in the continued expansion of renewable energy production. Micro-hydro storage using a pump as a turbine is a potentially promising solution in certain cases, for example, for extending existing photovoltaic systems (PV) and thus reducing grid load and enabling economically beneficial self-consumption of the energy produced. This paper gives an overview of various operating strategies and their technical and economic efficiencies. The evaluation was based on a simulation model of a system that uses measured characteristic maps of both the pump and turbine operations. An optimizer was employed to vary the essential system parameters, which made it possible to determine the optimal economical operation of the pump as a turbine in combination with a PV system. This in turn enabled us to determine the conditions under which the system can be operated most profitably. It was then possible to make precise calculations of the stored energy quantities, total efficiency (ηtot = 42% with speed control), and many other values critical to each operating strategy. Based on the technical findings, the economic analysis resulted in a levelized cost of energy of 0.63 €/kWh for the micro-hydro storage when using speed control.