The main objective of STORY is to show the added value storage can bring for a flexible, secure and sustainable energy system. This will be achieved by showing the inter-relations between technologies and stakeholders as well as the potential and impact of policy and regulation. The future European grid has to serve a diverse and mixed landscape of users in a situation of mixed rules and responsibilities depending on the policy and regulatory choices that will be made. Challenges include high penetration of renewables, bi-directional flows of different energy vectors, growing number of users and requirements for higher security. The European commission wants to strengthen the position of the EU energy industry, including those players active in producing solutions for security of supply, increased share of renewables and grid stability. The advances in ICT technology, intelligent control algorithms, inverter and storage technologies provide strong tools to cope with these challenges. Given this context, STORY focuses on providing relevant and wide-covering demonstrations that serve as input for a thorough and transparent analysis on what the impact of storage can be for the involved stakeholders. Storage is considered as a means, while not neglecting other competing technologies that could provide a similar or complementary functionality. The actions that the 18 members from 9 European countries in STORY consortium are going to take in a 5-year project bring a valuable contribution to turn these challenges into opportunities. They will not only develop the most viable storage and ICT solutions for the demonstration sites, but they will also analyse the impact of large penetration of the technologies through simulations, analyse the effect of policies and regulations to the business opportunities of storage related industry and communicate the findings to wider community through systematic strategies for impact creation.