Increasing use of renewable energy sources to combat climate change comes with the challenge of power imbalance and instability issues in emerging power grids. To mitigate power fluctuation arising from the intermittent nature of renewables, electric spring has been proposed as a fast demand-side management technology. Since its original conceptualization in 2011, many versions and variants of electric springs have emerged and industrial evaluations have begun. This paper provides an update of existing electric spring topologies, their associated control methodologies, and studies from the device level to the power system level. Future trends of electric springs in large-scale infrastructures are also addressed.