Electrochemical reduction of CO2 to useful chemicals can change the role of CO2 from harmful waste to a valuable feedstock. Despite a lot of progress in the alkaline electrochemical conversion of CO2 to formate, there is still a lack of potential applications for the generated aqueous formate solution. Here, the general ability of formate to be used as an energy or hydrogen carrier is discussed and compared to well-known energy storage chemicals. Concepts to employ formate solution as an energy carrier by combining CO2 electrolysis with the reconversion of formate into electricity via a direct formate fuel cell or catalytic decomposition to H-2 combined with a proton exchange membrane fuel cell are demonstrated.