In this paper, a techno-economic model / cost reduction analysis of a low-cost, dispatchable / scalable, efficient Ground-Level Integrated Diverse Energy Storage (GLIDES) system is analyzed, along with a review of existing state-of-the-art energy storage technologies. The introduced technology, GLIDES, which was invented at the Oak Ridge National Laboratory (ORNL), stores energy by compression and expansion of air using water as a liquid piston inside high-pressure reservoirs. GLIDES is introduced by combining Pumped Hydroelectric Storage (PHS) and Compressed Air Energy Storage (CAES) technologies. By replacing inefficient gas compressor and turbine with higher efficiency liquid turbomachines for liquid-piston compression/expansion, GLIDES achieves higher roundtrip efficiency than other gas compression-based energy storage technologies and is a scalable energy storage system. For cost reduction purposes, various pressure reservoirs including steel vessels, carbon fiber vessels, pipe segments, and underground pressure reservoirs are analyzed in this paper. Based on the analyzed data using the models discussed in this paper, energy storage costs as low as ∼$14/kWh and ∼$346/kWh (roundtrip efficiency (RTE) ∼80%) can be achieved for a grid-scale GLIDES using depleted oil/gas reservoirs and high-pressure pipe segments respectively.