This report provides an in-depth analysis of current thermal storage technologies in the marketplace as of 2019 and develops a phenomenological identification ranking table (PIRT) and Figure of Merit (FOM) study for near-term thermal energy storage technologies with light water reactor technology. Particular focus was given the NuScale reactor as part of the Joint Use Modular Plant (JUMP) program between INL, NuScale, and the Utah Associated Municipal Project (UAMPs). Ancillary service industries and technologies are explored in detail to ascertain thermodynamic requirements for integration with thermal energy storage technologies. These industries include steel manufacturing, hydrogen production, desalination, pulp and paper manufacturing. It was determined that a large percentage of these industries can make use of existing nuclear output temperatures and pressures. Storage technologies that can maintain these values are advantageous for coupling purposes. The report then analyzes ten thermal energy storage technologies, with thirteen specific systems discussed in detail regarding their potential to integrate with LWR technology. A ranking tool identified important characteristics of thermal storage and ranked each of the technologies. Concrete, molten salt, and thermal oil sensible heat storages, and steam accumulators evaluated highly. After including cost estimations and qualitatively comparing these technologies, it is recommended that either molten salt or thermal oil is used for implementation with the JUMP module. The TES project cost will likely cost between $14,000,000 and $50,000,000. The potential flexibility of a two-tank sensible heat storage system should be able to demonstrate various new uses for nuclear heat. From power peaking via steam or liquid air heat topping to process heat applications, a two-tank system should be able to best provide a constant power transfer capability to the auxiliary energy consumer. Through commencement of this work, a more refined thermal storage selection process for Nuscale and existing nuclear power plants can be conducted. The ranking system developed here can be used to re-evaluate the energy storage options periodically depending on the projected installation dates. Current results suggest two-tank thermal energy storage is the most relevant technology in the near-term.