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Wait! Never mind. I should have done a simple web search before posting this question.
I found a video on it.
England already has two oversea electric cables that connect it to France on the one side and Scandinavia on the other. They have more than paid for themselves already, indicating that this a solution already being implemented in parts of the world... At least for short distances.
Yeah, it's best to do some searches before asking here. In my experience, Lemmy isn't nearly as strict on that as the other website.
That said, R.J. Gumby was able to give a fantastic link about the storage technology currently in use.
I'm glad you're getting good results! It is interesting to see someone learning in real time through edits and comments. Yay internet!