Batteries have enormous commercial impetus behind them already. Each kWh of charge/discharge can replace 1/10th of a gallon of gasoline, and for portable electronics a high density battery would be worth 10-100x that ($500 phone manufacturers would pay $10 per Wh for a superbattery even if it only lasted 300 charges).
Unfortunately for battery makers, grid storage has to compete with natural gas, which has pretty low prices right now. A CCGT plant will need less than $0.03 of gas to produce a kWh of electricity, and the rest of the cost is just maintenance and an amortization of fixed costs. Batteries can find use in isolated applications (e.g. handling major spikes on a timescale of a few hours, as you get from solar/wind), but that's it.
Don't hold your breath for batteries solving grid storage. However, for transportation and electronics there seems to be a big breakthrough that's near commercialization:
http://enviasystems.com/
400Wh/kg and $125/kWh means 50kg and $2500 is all the battery you need for a PHEV, though power density is a bit low so you'll need a supercapacitor for electric-only performance.
That's interesting. I've never even heard of that until now. However, a quick google makes it looks horribly inefficient. Is there some short cut using the sun or bacteria or something? Electricity->hydrogen->methane->ICE/CCGT seems like it would be only 20-30% efficient.
I just don't see it competing with EVs. There are many inherent advantages of EVs, like instant torque, low marginal cost/weight for high power, and silent ride. Due to all the energy conversions, per-mile fuel cost isn't nearly as good as for EVs, and energy cost is even worse. Unless the EV industry experiences a catastrophic collapse before economies of scale kick in, CNG doesn't have a chance.
As for grid storage, it's not going to compete with just using natural in the first place.