Well it can make sense. Much of the power generated by wind turbines is wasted for example and if you can store the excess for later use than all is good. And using excess power this way is really no different to using it for stored hydro; ie use excess energy to pump water into storage to later be converted back to electricity in a turbine. If you have saved what would have been wasted then it's a net gain. And that's only part of it.
It's also been mentioned here that stored heat for direct use has many applications. Have a look at the projects that have already been locked in. And heat storage in Europe for example has many more applications than it does here.
14D Price at posting:
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