With evolving Smart Grid Architecture, the Information and Communication Technology (ICT) becomes the backbone for establishing reliable control functionality for secure operation of large interconnected Grid. The current research areas of Energy Storage and Smart Grids scores high in timeliness and appropriateness.Advances in energy storage systems are crucial if renewable energy has to progress from being aside-player in the electricity arena to becoming a more central contributor. RE technologies basedon solar and wind energy suffer from poor Plant Load Factor (PLF) because of intermittency in generation and the asynchronous relationship between demand and supply. Current energy storage technologies, especially in the electrochemical category, suffer from low energy density and therefore, are not cost effective options above a certain scale. Therefore, there is a compelling-need for cutting-edge research in energy storage options. The current proposal seeks to further research on energy storage technologies in a manner that addresses three important dimensions