Flywheel is a promising energy storage system for domestic application, uninterruptible power supply, traction applications, electric vehicle charging stations, and even for smart grids. In fact, recent developments in materials, electrical machines, power electronics, magnetic bearings, and microprocessors offer the possibility to consider flywheels as a competitive option for electric energy storage, which can be of great interest for domestic applications in the near future. In this paper, a grid-tied flywheel-based energy storage system (FESS) for domestic application is investigated with special focus on the associated power electronics control and energy management. In particular, the overall PMSM-based flywheel configuration is reviewed and a controlling strategy was experimentally implemented using DS1104 controller board from dSPACE. Two case studies were considered for power peak shaving and power backup at domestic level. A lab-scale prototype was built to validate the proposal. The achieved results are presented and discussed to demonstrate the possibilities offered by such an energy storage system for domestic application.