According to the “China Energy Storage for Grid System Industry Report, 2014-2017” Energy storage has a wide range of applications in electric power system, involving all aspects of power generation, transmission, distribution and end user. The energy storage technologies for grid system include pumped storage, compressed air, flywheel, chemical battery, super capacitor, etc. Except the relatively mature pumped storage, others are still at the early stage of industrialization or under research. However, all governments have been virtually aware of the importance of energy storage industry, hence a desperate need for development of energy storage. The flywheel being developed by Zhengzhou Runner and Chakratec with the high performance, long discharging period and long mechanical life will be the leader of energy storage.