This document provides an overview of flywheel energy storage systems. It discusses how flywheels store kinetic energy by rotating a mass at high speeds, and can act as both a load to charge the flywheel using a motor and a source to discharge energy using a generator. The key components are the flywheel, motor/generator, power electronics, magnetic bearings, and external inductor. Flywheel systems are best for high power applications between 100kW-2MW for durations of 12-60 seconds. The advantages are high power and energy density, long lifetime, and fast recharging, while disadvantages include complex bearings and potential safety issues if the flywheel fails.