This thesis is divided in two sections. The first part consists of an interview study with 10 participants to investigate how the industry views the demand for energy storage and how it may develop in the future. Although some views differed, the study showed that a great responsibility lies on the existing hydropower. Batteries are believed to have the greatest potential as short-term storage. The participants agree that hydrogen could have great potential as a flexibility service. The future for Underground Pumped Hydro Energy Storage (UPHES) in Sweden have the participants divided but they seem to agree on the fact that the potential will depend on how price variations develop on the electricity market. Lastly, the industry agreed that a variety of energy storage technologies will be needed for the future energy system. The second part of the study is a deeper investigation into what energy deficit and demand for long-term energy storage (longer than 8 hours) might occur in the future and how UPHES may help shorten the longest deficits. To determine the need for energy storage, the scenario Electrification Renewable from a Svenska Kraftnät (Svk) report was chosen to represent the future energy system for year 2045. The result showed that depending on how the need for energy storage is defined, the amount of energy demand and therefore UPHES facilities, varied. If the need for energy storage was dimensioned regarding the average year it would result in 0,21 TWh of long-term energy deficits and 28 facilities would be enough to cover all of them. If the number of facilities was increased, the result showed a lower usage of all the facilities. However, if the need for energy storage was dimensioned regarding the ''worst case scenario'', the longest deficit out of 35 years, the energy demand in the long deficits was 14 TWh. If 28 facilities were used only 11 % of the energy demand in the long deficits would be covered. If the number of facilities increased, 172 facilities would cover 32 % of the energy demand in the long deficits and 1834 facilities would cover 60 %.