With increased deployment ofintermittent renewable energy, such aswind and solar power, energy storagebecomes necessary to help reduceproduction peaks. Thermoelectric EnergyStorage is a method still in researchphase, which stores electricity in hotwater at a temperature of 120 ° C. Thisthesis aims to examine whether theThermoelectric Energy Storage would bepossible to integrate into existingpower generation such as a combined heatand power plant, and how the technologypotentially could function in theelectricity market. ThermoelectricEnergy Storage consists of a chargingprocess and a discharging process, bothoperating by the working fluid CO2. Toincrease the efficiency of theThermoelectric Energy Storage, wasteheat from the district heating networkis integrated. A model of the Thermoelectric EnergyStorage has been developed and it wascalculated by thermodynamic propertiesof the working fluid, CO2, in thevarious process steps. Results of themodel consist of a coefficient ofperformance (COP) of the chargingprocess and an efficiency of thedischarge process. A total roundtripefficiency of the system was alsocalculated. Two cooling alternativeswere examined in the model, an opencycle and a closed cycle. The resultsshow that the most effective systemoption includes waste heat in both thecharging and discharging process. Onaverage, the mentioned system optionresulted in an overall efficiency ofabout 98 per cent for an open cycle and83 per cent for a closed cycle.