Energy management provides the framework for optimised system operation. Energy storage system smoothens the stochastic nature of renewable energy, allows for increased access to renewable energy in remote areas, increase the reliability of micro-grids, plays a major role in the development of hybrid vehicles and serves as energy conservation system in green buildings. The need for increased access to reliable and sustainable energy in developing countries requires more deployment of energy storage technologies, particular, battery technologies. This study provides a review of the technical characteristics and costs comparison of various battery technologies. A single battery technology may not meet all the specification of a system and a wrong application will reduce the potentially derivable value. Hence, a knowledge of technical characteristic of each battery technology is important toward technology adoption.