Cold thermal storage can be used to manage peak load when the energy demand is exceeding the capacities of the electric companies. Latent heat thermal storage is more effective because it requires less spacing and has higher thermal capacity than other types. Solidification and melting are taking place in CTS and need more investigation for better performance. Phase change materials properties vary and need more investigation to select the most suitable for a certain application. The analytical equations are needed for design of CTS and get the maximum efficiency out of it. Cost effectiveness is also described.