Energy is indispensable elements for economic development and civilian. Taiwan is relies heavily on imported energy resources. Therefore, developing self-independent renewable energy resources will be the primary focus for Taiwan. For some renewable energy sources, such as solar energy and wind energy, the applications are limited by weather conditions. With the increasing proportion of renewable energy sources in the grid, the instability and intermittency of renewable sources causing unstable energy supply are underscored. Introducing energy storage systems into electric grid will enhance the demand-side manage efficiency and eliminate the difference between peak and valley due to electric power consumption variation in days and nights. The energy storage system provides efficient utilization of the electric equipment, enhances the cost reduction in power supply, and promotes the applications of renewable energy sources. It also can be considered as a means of improving overall power quality and reliability, adjusting frequency and compensating for load fluctuations. This paper is focused on the development and market profile of energy storage technologies on current status. Applicable overview, international energy storage installation costs and system prices, R&D focus and planning of all energy storage technologies are also introduced in this article. We hope that this paper will be a reference to the related units for the future energy storage industry in Taiwan. The government has to create an environment which is beneficial to the development of renewable energy and grid energy storage system with technical guidance and industrial encouragement. The ultimate goals for the above-mentioned issues are to improve the capital accumulation, the development of new industries and the increasing employment opportunities. This is eventually beneficial to the economic growth in Taiwan.