Abstract The pressing need for green, renewable, alternative energy sources is due to the fast depletion of fossil fuels, increasing demands for energy, and the adverse effects of the use of fossil fuel on the environment. The world is embarking on ambitious solar and wind energy projects, as they can meet future energy requirements. However, supplied energy from these sources is intermittent and weather-dependent. Therefore, it is necessary to store the energy generated from these sources for continuous supply. Thus, electrical storage technologies are essential for both storing excess power and for meeting peak power demands (Tiwari and Mishra, 2011). The leading energy storage technologies include flywheels, superconducting magnetic energy storage, compressed air energy storage, water electrolysis and electrochemical energy storage devices such as batteries (Alotto et al., 2014). However, high installation costs and poor efficiency are the major limitations of their widespread use. Batteries and electrochemical capacitors can be cost-effective and allow for flexibility in deployment. Battery technologies are also ideal for transportation where instant power needs to be available for the vehicle for reasonable lengths of time. They are inexpensive and ensure high levels of safety, reliability, and durability. They come in various sizes and capacities, suitable for stationary and portable applications over a broad spectrum of human activity (Dunn et al., 2011).