Pumped hydro is being built out like gangbusters. Mostly on hilltops, so far. But deep underground works too, and combined with hilltop multiplies the energy stored per gallon of water.
My current favorite, demonstrated recently, is a spherical pressure vessel anchored to the ocean bottom. The deeper it is, the more power it stores. At the bottom of the tank a pump drives out the water, leaving water vapor. You let it back in for power. You only need a wire back to shore.
Synthesis of hydrogen and ammonia has a huge, crucial role because those can be shipped to where they are needed. Ammonia is easy to handle liquified at room temperature and low pressure. The low round-trip efficiency turns out not to matter much; you just add more panels to make up the difference. A GW ammonia plant is going up in Norway. We will need hundreds more, in the tropics. The local stockpile only needs to hold out until the next shipment arrives, just like for oil, except you only need it sometimes.
Anytime local tankage is full, you can sell further production, which is massively useful as industrial feedstock. Because each extra panel you install generates revenue, there is no penalty for building out massive overcapacity.
Hydrogen is easy to store underground, e.g. in places where natural gas was pumped out of.
A 100 MW liquified nitrogen plant is going up in Chile. Liquifying air is extremely mature tech, very efficient already.
Compressed air, as noted, is being tried. A big bag anchored to the sea bottom can have air pumped into it, and released for power. Disused mines and salt domes can hold compressed air, too. Compressing hydrogen into them stores two kinds of power at the same time.
The point about cost is that a dollar spent on any technology displaces a certain amount of fossil fuel per unit time. Spend it in the wrong place, and you displace less coal than if you had spent it in a better place. Nukes are so expensive that your dollar fails to displace much coal.