Energy storage systems are the set of technologies used to store various forms of energy, and by necessity, can be discharged. Energy storage technologies have a wide range of characteristics and specifications. Like any other technology, each type of energy storage has its pros and cons. Depending on the application, it is crucial to perform a tradeoff study between the various energy storage options to choose the optimal solution based on the key performance objectives and various aspects of those technologies. The purpose of this thesis is to present a thorough literature review of the various energy storage options highlighting the key tradeoffs involved. This thesis focuses on evaluating energy storage options for traction and renewable energy applicationsHybrid Electric Vehicles (HEVs) is one key application space driving breakthroughs in energy storage technologies. The focus though has been typically on using one type of energy storage systems. This thesis investigates the impact of combining several types of batteries with ultracapacitor. A case study of integrating two energy storage systems in a series-parallel hybrid electric vehicle is simulated by using MATLAB-SIMULINK software.The other key application space is renewable energy especially wind and solar. Due to the intermittent nature of renewable energy sources, energy storage is a must to achieve the required power quality. Therefore, this thesis aims to investigate different cases of combining different types of energy storage with wind and solar. Hybrid Optimization Model for Electric Renewables (HOMER) software is utilized to study the economic and sizing aspects in each case
