A thermal energy storage system comprising a working fluid to store and transfer thermal energy between a heat source and a thermal load and a vessel to store the working fluid. The vessel has an interior region and a floating separator piston in the interior region to separate a hot portion from a cold portion of the working fluid. There is a first manifold thermally coupled to an output of the heat source and to an input of the thermal load and fluidly coupled to the interior region of the vessel and a second manifold thermally coupled to an input of the heat source and an output of the thermal load and fluidly coupled to the interior region of the vessel. There is a controller configured to maintain the working fluid in a liquid state.