Storage is just direct access to the energy arbitrage market. The problem isn't "How storage makes money," but rather, "how can I make money on storage." Storage requires large capital investments for what are typically small relative returns.

However, there are some markets that are ripe for roll-out and Texas actually has a surprise advantage in the energy storage market. Many of those natural gas or oil wells are suitable reservoirs for compression storage of energy once they run dry which significantly lowers the capital costs of setting up that type of energy storage. Hell, some of those wells are even deep enough that they could be used to generate geothermal power in the future.

I'm imagining what Enron would have done with this market. For those that don't know Enron actually did interesting things in the energy market for about 10 years before it went fully over to the dark side.