In today's power systems, growing demand, aging infrastructure, system constraints as well as the increasing renewable energy portfolio have increased the need for utilities to find new ways to manage their system and increase reliability. One area that is surfacing as a potential solution to this is what is commonly referred as the “holy grail” of the industry or energy storage. The utility industry is the only industry that does not have a common warehouse or inventory of the product they produce. When a customer turns on a light switch, the power is generated immediately. To store this power in a warehouse has not been done economically in the past.