Storing energy in hot water is common is sunny regions, for example Turkey.

Some large cold storage facilities in Germany are trying to optimize electric demand to use cheap peak day electricity. But they have to observe limitations in range of temperatures and capacity of cooling devices.

https://www.cleanenergywire.org/news/cold-storage-facilities...

" Compared to conventional cold storage systems, renewable energy-driven cold storage demonstrates a 10–35 % reduction in energy losses"

https://www.sciencedirect.com/science/article/abs/pii/S23521...