Since the discovery of electricity, the demand for effective energy storage methods has increased. Energy storage devices are efficient tools used to manage power supply and produce resilient and cost-effective energy frameworks. Advanced technologies in modern economy and society require the application and design of inexpensive, highly efficient, and various infrastructures for energy storage systems. For instance, fuel cells, batteries, electrochemical capacitors, and conventional capacitors are used as energy storage devices because they can enhance energy or power densities. They can also supply energy within short or long periods. Their performances have also been improved. This review emphasizes carbon nanotubes as electrode materials for lithium-ion batteries and electrochemical capacitors. Different types of substrates and thin films may yield various structural and electrochemical properties of carbon nanotubes. This review also discusses their electrochemical performance observed through cyclic voltammetry and charge-discharge.