The electrical power grid faces a growing need for large-scale energy storage over a wide range of time scales due to costly short-term transients, frequency regulation, and load balancing. The durability, high power, energy efficiency, and low cost needed for grid-scale storage pose substantial challenges for conventional battery technology.(1, 2)Here, we demonstrate insertion/extraction of sodium and potassium ions in a low-strain nickel hexacyanoferrate electrode material for at least five thousand deep cycles at high current densities in inexpensive aqueous electrolytes. Its open-framework structure allows retention of 66% of the initial capacity even at a very high (41.7C) rate. At low current densities, its round trip energy efficiency reaches 99%. This low-cost material is readily synthesized in bulk quantities. The long cycle life, high power, good energy efficiency, safety, and inexpensive production method make nickel hexacyanoferrate an attractive candidate for use in large-scale batteries to support the electrical grid. © 2011 American Chemical Society.