Summary: The Energiewende in Germany aims at increasing the share of fluctuating renewable energy drastically. With this, new challenges for the electricity system arise. Different types of storage and other flexibility options are available to cope with these challenges. This paper discusses different areas of application for power storage in the context of the Energiewende and discusses possible interactions with other flexibility options. With increasing shares of fluctuating renewables, power generation should become more flexible in the first place. Later on, different flexibility options related to generation, demand and networks gain increasing importance. In the medium term, different types of storage could provide valuable flexibility and ancillary services. In the long run, power storage is needed to reduce renewable curtailment and shift bulk energy between different periods. In a 100 percent renewable energy system, seasonal storage options become essential.→ JEL Classification: Q42, Q47, Q48