Many homes have solar PV panels installed which generate electricity during daylight. They can operate at the grid level, absorbing surplus energy from the grid and then delivering it back when grid demand rises, or they can operate at the individual consumer level, balancing local supply and demand. In either case ,the storage system will reduce peaks and troughs in demand from the grid and help stabilise the supply.

A battery’s round-trip efficiency represents the amount of energy that can be used as a percentage of the amount of energy that it takes to store it. If 5 kWh of electricity goes into a battery, and only 4 kWh gets back, the battery has 80 percent round-trip efficiency (4 kWh / 5 kWh = 80%). A higher round-trip efficiency means you will get more economic value out of a battery.

Energy storage technologies can enable nuclear power plants to follow electricity demand throughout the day and minimise cycling costs. Energy storage technologies facilitate achieving demand-side energy management, bridging the gap present between the power demand and the quality of power supplied and reliability on a long-term basis. Through the amalgamation of energy storage systems, the power and the energy challenges faced by conventional systems can be effectively confronted.

The attractive perspective of energy storage technologies is that they have numerous applications ranging from large-scale generation and transmission-based systems to network distribution systems.

Despite having a variety of energy storage technologies, it can be seen that each storage system performs in a different manner with its inherent storage characteristics.