Abstract Energy storage systems are a fundamental part of any efficient energy scheme. Because of this, different storage techniques may be adopted, depending on both the type of source and the characteristics of the source. In this investigation, present contribution highlights current developments on compressed air storage systems (CAES). The investigation explores both the operational mode of the system, and the health & safety issues regarding the storage systems for energy. The investigation also includes a detailed conclusion, which summarises the vast significance of novel energy storage technology. The investigation thoroughly evaluates the various types of compressed air energy storage systems, along with the advantages and disadvantages of each type. Different expanders ideal for various different compressed air energy storage systems are also analysed. Design of salt caverns and other underground and above compressed air storage systems were also discussed in terms of advantages and disadvantages.