The document summarizes a report by the World Energy Council on energy storage technologies. It finds that the costs of energy storage are forecasted to reduce by up to 70% by 2030. While levelized cost of energy is a useful metric, it has limitations and the true value of storage lies in improving power reliability and quality. Storage creates additional value by balancing loads, enabling deferred grid investments, and enabling price arbitrage. The report models costs of different storage technologies and finds lithium-ion batteries and pumped hydro make up most installed capacity currently. It recommends examining storage holistically in context and developing flexible markets to maximize value beyond cost alone.