BACKGROUND Nanomaterials offer greatly improved ionic transport and electronic conductivity compared with conventional battery and supercapacitor materials. They also enable the occupation of all intercalation sites available in the particle volume, leading to high specific capacities and fast ion diffusion. These features make nanomaterial-based electrodes able to tolerate high currents, offering a promising solution for high-energy and high-power energy storage. However, there are still many challenges associated with their use in energy storage technology and, with the exception of multiwall carbon-nanotube additives and carbon coatings on silicon particles in lithium-ion battery electrodes, the use of nanomaterials in commercial devices is very limited. After decades of development, a library of nanomaterials with versatile chemical compositions and shapes exists, ranging from oxides, chalcogenides, and carbides to carbon and elements forming alloys with lithium. This library includes various particle morphologies, such as zero-dimensional (0D) nanoparticles and quantum dots; 1D nanowires, nanotubes, and nanobelts; 2D nanoflakes and nanosheets; and 3D porous nanonetworks. Combined with lithium and beyond lithium ions, these chemically diverse nanoscale building blocks are available for creating energy storage solutions such as wearable and structural energy storage technology, which are not achievable with conventional materials. ADVANCES The success of nanomaterials in energy storage applications has manifold aspects. Nanostructuring is becoming key in controlling the electrochemical performance and exploiting various charge storage mechanisms, such as surface-based ion adsorption, pseudocapacitance, and diffusion-limited intercalation processes. The development of new high-performance materials, such as redox-active transition-metal carbides (MXenes) with conductivity exceeding that of carbons and other conventional electrode materials by at least an order of magnitude, open the door to the design of current collector–free and high-power next-generation energy storage devices. The combination of nanomaterials in hybrid architectures, such as carbon-silicon and carbon-sulfur, together with the development of versatile methods of nanostructuring, overcome challenges related to large volume change typical for alloying and conversion materials. These examples indicate that nanostructured materials and nanoarchitectured electrodes can provide solutions for designing and realizing high-energy, high-power, and long-lasting energy storage devices. OUTLOOK The limitations of nanomaterials in energy storage devices are related to their high surface area—which causes parasitic reactions with the electrolyte, especially during the first cycle, known as the first cycle irreversibility—as well as their agglomeration. Therefore, future strategies aim to develop smart assembly of nanomaterials into architectures with controlled geometry. Moreover, combining nanomaterials with complementary functionalities, such as high electronic conductivity of graphene or MXenes with high operating voltage and high redox activity of oxides, is necessary. Building sophisticated electrode architectures requires innovative manufacturing approaches, such as printing, knitting, spray deposition, and so on. Already-developed techniques such as 3D printing, roll-to-roll manufacturing, self-assembly from solutions, atomic layer deposition, and other advanced techniques should be used to manufacture devices from nanomaterials that cannot be made by conventional slurry-based methods. Such manufacturing approaches can also enable long-sought flexible, stretchable, wearable, and structural energy storage and harvesting solutions for Internet of Things and other disruptive technologies.