Abstract
Energy storage systems are becoming increasingly important in transitioning to cleaner and more sustainable energy sources. However, several challenges need to be addressed in developing and implementing energy storage systems, including cost, durability, safety concerns, regulation, and scalability in terms of how the energy storage system can be more sustained. This study focuses on the review of energy storage and energy management systems such as mechanical storage systems, flywheel storage systems (FWSS), electrochemical storage systems, potential hydro storage (PHS), battery energy storage systems (BESS), and Lithium-Ion (Li-Ion) storage systems. The study also reviews works on nano-carbon-based and nanocomposites and redox polymers as sustainable materials for the energy storage system. Furthermore, the study discusses the effects of the demand for energy on the storage system. This review highlights the challenges faced by the industry. It provides recommendations for addressing these challenges, such as investing in R&D for new and improved technologies, implementing standardisation and regulation, reducing costs, and promoting hybrid energy storage systems. By addressing these challenges, the energy storage industry can continue growing and provide a more reliable, sustainable, cost-effective energy storage and management solution.