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Over the past decade, electrochemical energy storage (EES) devices have greatly improved, as a wide variety of advanced electrode active materials and new device architectures have been developed. These new materials and devices should be evaluated against clear and rigorous metrics, primarily based on the evidence of real performances. A series of criteria are commonly used to characterize and report performance of EES systems in the literature. However, as advanced EES systems are becoming more and more sophisticated, the methodologies to reliably evaluate the performance of the electrode active materials and EES devices need to be refined to realize the true promise as well as the limitations of these fast-moving technologies, and target areas for further development. In the absence of a commonly accepted core group of metrics, inconsistencies may arise between the values attributed to the materials or devices and their real performances. Herein, we provide an overview of the energy storage devices from conventional capacitors to supercapacitors to hybrid systems and ultimately to batteries. The metrics for evaluation of energy storage systems are described, although the focus is kept on capacitive and hybrid energy storage systems. In addition, we discuss the challenges that still need to be addressed for establishing more sophisticated criteria for evaluating EES systems. We hope this effort will foster ongoing dialog and promote greater understanding of these metrics to develop an international protocol for accurate assessment of EES systems.