[Retric]

The energy never gets turned back to electricity. It’s electricity > melting iron for steel (or whatever) and we’re inserting an energy storage in the middle because it’s effectively free.

The total energy storage is also unlikely to be huge so it’s more like load management not really grid storage. https://en.wikipedia.org/wiki/Load_management IE: Because we have energy storage and other users don’t we can cut demand when prices spike. Utilities will cut special rates for companies that allow the utility to load shed them first.

The same basic concept is common in other areas. Get enough storage for ~free such as with an EV and you can simply wait until prices get cheap before charging.