Because of the depletion and scarcity of natural resources, energy storage systems have become the foundation of energy utilization today. Energy can be stored in a variety of ways, including kinetic, chemical, electrical, and thermal. The implementation systems and devices used for each process distinguish the various storage types. In addition, applications can specify the characteristics of the used energy as well as the consumption parameters. These systems generate energy during periods of high demand in order to meet the needs of the population and industries. In hybrid configuration plants, energy storage plants can store energy generated directly from one source or can combine two or more energy types to produce the required energy. In this paper, we will discuss the various types of energy and describe the working principle of some systems using examples. Following that, we will discuss the development outlook based on the trends that have been examined.