Power system reliability can be improved with the use of energy storage. Energy storage technologies are examined critically, including storage kinds, categorizations, and comparisons. Electrochemical and battery energy storage, thermal and thermochemical energy storage, flywheel energy storage, compressed air energy storage, pumped energy storage, magnetic energy storage, chemical and hydrogen energy storage are all taken into account. The recent research on novel energy storage kinds and its significant achievements and discoveries in energy storage are analyzed. It is the goal of this study to undertake a complete and systematic evaluation of the influence of battery energy storage systems (BESS) on power systems and microgrids. Peer-reviewed studies published between 2010 and the start of 2021 provides the basis of the SLR (Systematic Literature Review). Due to inadequate wind or sunlight, renewable energy sources (RESs) like wind and solar are regularly subjected to swings. Energy storage technologies (ESTs) help to solve the issue by storing extra energy and making it available when it’s needed. Despite the fact that there are several EST investigations, the literature is fragmented and out of date. The comparison of EST features and applications is very brief. The purpose of this article is to fill that void. It identifies major ESTs and offers an updated overview of the literature on ESTs and their potential use in the renewable energy industry, based on a set of criteria. The critical analysis reveals that Li-ion batteries have a high potential applicability in the utility grid integration sector and are BESS suited to alleviate RES volatility. However, Li-ion batteries’ costs must be decreased in order for them to be completely utilized in RES utility grid integration. It has long been shown to improve system dependability and reduce transmission costs by introducing energy storage into power networks. The development of energy storage devices is aided by regulations that promote the use of renewable energy sources rather than fossil fuels. There are also voids in this field of research. To help academics better grasp the dependability implications of energy storage systems and fill in knowledge gaps in the field, this review is available. Reduced emissions and global warming as a result of the increased usage of renewable energy resources In terms of renewable energy, wind turbines and solar PV systems are two of the most common. In contrast, the advantages and downsides of using renewable energy sources are numerous. Renewable energy’s biggest flaw is its inability to generate consistent amounts of power. It is difficult to maintain a balance between generation and demand due to the irregularity of renewable energy sources’ power output and the sudden spikes or dips in demand. Consequently, there will be deviations in grid voltage and frequency, leading to operational difficulties and perhaps jeopardizing grid stability. Battery energy storage systems (BESS) can be used to regulate the output of renewable energy sources and keep the grid stable.