Pumped thermal energy storage (PTES) is a storage system that stores electricity in thermal reservoirs. In this project, methods of integrating PTES with concentrating solar power (CSP) systems were investigated and their feasibility evaluated. Hybrid "solar-PTES" devices can provide both flexible renewable power generation as well as a variety of electricity storage services.Techno-economic models of PTES and solar-PTES were developed and used to assess their performance, cost, and commercial viability. Systems were optimized using multi-objective optimization techniques. The value that these storage devices provide to the grid was estimated using production cost modeling.Key advances made in this project include the development of detailed techno-economic models that improve state-of-the-art assessments of these technologies. Off-design models were developed and used in grid-analysis models. This work describes for the first time how PTES and solar-PTES behave over a range of operating points and assesses the value that these systems can provide to the electrical grid. Feedback was obtained from experts in the field, which clarified key technological and economic barriers that must be addressed to improve the feasibility of these devices.Several PTES and solar-PTES systems were investigated, using a variety of power cycles, working fluids, and storage fluids. The main technologies discussed in this report are (1) a PTES system that uses an ideal-gas Joule-Brayton cycle with nitrate molten salt storage (2) a solar-PTES system where an existing CSP plant is retrofitted with a Joule-Brayton heat pump that can "top up" the shared molten salt storage. Other cycles that use supercritical CO2 are also discussed and evaluated.Simple thermodynamic models were first developed of a variety of PTES and solar-PTES concepts. Results were used to determine which systems were the most promising and merited further research. More detailed techno-economic models were then built. The technical models captured the performance of each component in the system. In particular, quality representations of heat exchangers were required, and the models were successfully validated against experimental results taken from the literature. The off-design performance of each component was modeled which enabled evaluation of PTES and solar-PTES performance at variable part load and ambient temperature. The system capital cost and levelized cost of storage (LCOS) were estimated by obtaining cost correlations for each component from the literature. Several correlations were used for each component, which enabled the use of a Monte-Carlo technique to calculate the likely cost and its uncertainty. This analysis emphasized the importance of heat exchanger design on the system performance, and high values of effectiveness (over 90%) are required to achieve reasonable round-trip efficiencies. It was found that this high effectiveness also minimized the lifetime cost (LCOS).The techno-economic models were integrated with a stochastic multi-objective opt...