PEDOT, or poly(3,4-ethylenedioxythiophene), is among the most successful conducting polymer products because of its stable conductivity, colloidal processability, and rich assembly behavior. Since the very first patents on PEDOT filed in 1988, the material has been widely explored for decades in many applications. In this review, a comprehensive summary on the synthesis, processing and post-treatment of PEDOT will be presented for the sake of the discussion on PEDOT and its nanocomposites for energy storage. Knowing what PEDOT lends itself to the electrode materials is of importance to the rational design of energy storage devices that maximize the real-world performance. Based on these discussions, a roadmap for the development of PEDOT as promising multifunctional electrode component is presented.