Energy is present in various forms in and around us. Capturing and storing energy from various sources have diverse challenges. Designing and developing energy storage systems are challenging, as various techniques are used to distribute energy from sources and to store for diverse use cases. Identifying the optimal and effective energy storage system requires the application of various model selection strategies. The success and adoption of effective energy storage systems can be identified with numerous factors, which include the systems’ efficiency, reliability, cost-effectiveness, and scalability. Various model selection strategies are available to compute and determine the effective energy storage mechanisms. Various researchers are planning and designing energy storage systems based on the insights from the data with the support of optimisation algorithms, mathematical models, and Artificial Intelligence (AI) and Machine Learning (ML) technologies. The chapter discusses the various model selection strategies for identifying effective models for energy storage systems.