Abstract: Electrical energy is a high quality form of energy that can be easily converted to other forms of energy with high efficiency and, even more importantly, it can be used to control lower grades of energy quality with ease. However, building a cost-effective electrical energy storage (EES) system is a challenging task despite steady advances in the design and manufacturing of EES elements including various battery and supercapacitor technologies. As of today, no single type of EES element fulfills high energy density, high power delivery capacity, low cost per unit of storage, long cycle life, low leakage, and so on at the same time.