Economic electricity storage systems would change the operation of the grid, how consumers use electricity, and how electricity is generated so profoundly that pursuing energy storage technology is a Holy Grail. Just one revolutionary result of economic storage would be the firming of wind and solar power, or reaching the day when the wind never dies and the sun never sets.
New data confirms that the search is being pursued vigorously, as energy storage systems have increased globally by 8% in the first six months, according to Pike Research.
http://www.pikeresearch.com/newsroom/energy-storage-projects-continue-to-increase-worldwide-rising-8-in-the-first-half-of-2012. Pike reports that the number of deployed or announced energy storage systems increased from 600 to 649.
Pump storage and batteries still dominate energy storage, though other technology like fly wheels is being developed. Pike notes that energy storage projects require government support around the world in order to move forward.
Stunningly, Pike also states that the Asia Pacific region has 60,000 megawatts of energy storage deployed, with China leading the way.