The unbalance between supply and demand of heat can be managed by thermal energy storage (TES). For large-scale systems the underground is used as storage medium or storage volume. Aquifer storage (ATES) is most suitable for very large applications, Borehole storage (BTES) the most general system in all scales and the rock cavern storage (CTES) is best suited for extremely high loading/extraction loads. The construction of any of these systems requires knowledge about site-specific properties of the ground i.e. geology and groundwater conditions. Current paper gives a brief review of the potential and advantage of Underground Thermal Energy Storage (UTES) technology utilization in buildings for the hard climate.