This article reviews the application and research progress of energy storage technology in power systems under the dual carbon background. This study reviews chemical and thermal energy storage technologies, focusing on how they integrate with renewable energy sources, industrial applications, and emerging challenges. Chemical Energy Storage systems, including hydrogen storage and power-to-fuel strategies, enable long-term energy. The growing urgency to address climate change by policymakers, industry, and investors appears to have reinvigorated carbon capture and storage (CCS) deployment. More than 50 CCS facilities at power plants are in various stages of development worldwide.