Unfortunately, valuation of the grid services provided by energy storage is often a very difficult task. Different approaches must be employed for market areas versus a vertically integrated utility. For behind the meter applications, the utility rate structure often defines the value of energy storage that can be monetized. In many cases, the entity that accrues the grid benefits of energy storage is not the owner of the energy storage system, further complicating valuation. Because of these factors, the value of an energy storage system is often highly location dependent. The goal of this panel session is to review energy storage applications and the current state of the art in energy storage valuation techniques.