Energy storage systems (ESSs) are vital for modern energy infrastructure, addressing efficiency, power quality, and reliability in DC/AC systems. They ensure grid stability and support renewable energy integration, with applications in aircraft, ships, and electric vehicles. Recent advancements focus on high-power storage technologies like supercapacitors, superconducting magnetic energy storage (SMES), and flywheels, which offer high power density and rapid response for applications requiring quick charging and discharging. Hybrid ESSs combine multiple storage technologies, enhancing flexibility and resilience for diverse applications, including critical loads. This paper reviews recent technological advancements in high-power storage devices, including lithium-ion batteries, and discusses hybrid ESS applications in microgrids and scenarios involving critical and pulse loads. It also covers power, energy, cost, life, and performance technologies. Hybrid energy storage systems (HESSs) integrate multiple storage technologies, such as batteries, supercapacitors, and flywheels, to optimize energy density, power density, efficiency, and cycle life. HESSs are crucial in microgrids for managing renewable energy intermittency, ensuring stable power supply, and optimizing energy use. In transportation, HESSs enhance electric vehicle performance by combining ultracapacitors with batteries for efficient power delivery. On a macro scale, HESSs stabilize large-scale power grids by smoothing out fluctuations from renewable energy sources, improving grid resilience and reliability. Energy storage technologies include lithium-ion batteries, pumped hydroenergy storage (PHES), compressed air energy storage (CAES), supercapacitors, flywheels, and SMES. Lithium-ion batteries offer high energy density and efficiency but face challenges in cost and safety. PHES and CAES are effective for grid stabilization but have lower efficiency. Supercapacitors provide high power density and rapid response but lower energy density. Flywheels offer high efficiency and low maintenance but limited energy density. SMES provides high efficiency and rapid response but requires cryogenic cooling and high initial costs. A comparative analysis of these technologies highlights their distinct characteristics in terms of power density, energy density, efficiency, and lifetime. Supercapacitors excel in power density, while lithium-ion batteries offer high energy density. Flywheels and SMES have high efficiency but lower energy density. Each technology has trade-offs, with HESSs combining strengths to meet diverse energy demands. Applications of ESSs include microgrids, transportation systems, critical loads, and pulse loads. HESSs manage power fluctuations in microgrids, ensuring stability and efficiency. In transportation, HESSs enhance electric vehicle performance by combining ultracapacitors with batteries. For critical loads, flywheel and supercapacitor systems provide immediate power during outages. In pulse load scenarios, supercapacitors and flywheels handle high instantaneous power demands. In power grids, ESSs support frequency regulation, voltage control, grid resilience, and oscillation dampingEnergy storage systems (ESSs) are vital for modern energy infrastructure, addressing efficiency, power quality, and reliability in DC/AC systems. They ensure grid stability and support renewable energy integration, with applications in aircraft, ships, and electric vehicles. Recent advancements focus on high-power storage technologies like supercapacitors, superconducting magnetic energy storage (SMES), and flywheels, which offer high power density and rapid response for applications requiring quick charging and discharging. Hybrid ESSs combine multiple storage technologies, enhancing flexibility and resilience for diverse applications, including critical loads. This paper reviews recent technological advancements in high-power storage devices, including lithium-ion batteries, and discusses hybrid ESS applications in microgrids and scenarios involving critical and pulse loads. It also covers power, energy, cost, life, and performance technologies. Hybrid energy storage systems (HESSs) integrate multiple storage technologies, such as batteries, supercapacitors, and flywheels, to optimize energy density, power density, efficiency, and cycle life. HESSs are crucial in microgrids for managing renewable energy intermittency, ensuring stable power supply, and optimizing energy use. In transportation, HESSs enhance electric vehicle performance by combining ultracapacitors with batteries for efficient power delivery. On a macro scale, HESSs stabilize large-scale power grids by smoothing out fluctuations from renewable energy sources, improving grid resilience and reliability. Energy storage technologies include lithium-ion batteries, pumped hydroenergy storage (PHES), compressed air energy storage (CAES), supercapacitors, flywheels, and SMES. Lithium-ion batteries offer high energy density and efficiency but face challenges in cost and safety. PHES and CAES are effective for grid stabilization but have lower efficiency. Supercapacitors provide high power density and rapid response but lower energy density. Flywheels offer high efficiency and low maintenance but limited energy density. SMES provides high efficiency and rapid response but requires cryogenic cooling and high initial costs. A comparative analysis of these technologies highlights their distinct characteristics in terms of power density, energy density, efficiency, and lifetime. Supercapacitors excel in power density, while lithium-ion batteries offer high energy density. Flywheels and SMES have high efficiency but lower energy density. Each technology has trade-offs, with HESSs combining strengths to meet diverse energy demands. Applications of ESSs include microgrids, transportation systems, critical loads, and pulse loads. HESSs manage power fluctuations in microgrids, ensuring stability and efficiency. In transportation, HESSs enhance electric vehicle performance by combining ultracapacitors with batteries. For critical loads, flywheel and supercapacitor systems provide immediate power during outages. In pulse load scenarios, supercapacitors and flywheels handle high instantaneous power demands. In power grids, ESSs support frequency regulation, voltage control, grid resilience, and oscillation damping