Now power grid management balances in near real time the supply and demand, without overloading any particular component line in the grid. At least that is so in the best of worlds where there are no blackouts and storm effects are minimized and quichly fixed.
Storage, batteries of utility scale are one technology, the other is for electric vehicles or hybrids, and for RFID and other devices.
Intel's Andy Grove is reported to have said it's a future direction his firm should pursue.
For more, a general Google, and a Google News search return multiple hits.
I would not bet against Intel or against Grove's judgment.