Energy storage technologies are essential for balancing supply and demand in energy systems, particularly with the increased penetration of renewable energy sources such as solar and wind. By storing excess energy generated during peak production times, these systems can provide energy during high demand periods or when renewable energy generation is low. Common energy storage technologies include batteries, pumped hydroelectric storage, flywheels, and thermal storage systems. Each type has its own applications, lifespan, cost-effectiveness, and efficiency.