The world has lot of energy resources, but the major problem is concerned with its storage. This paper demonstrates the thermal energy storage using phase change material (PCM) which is one of the effective methods. In this paper, a 'two-way heat exchanger system' is designed in which thermal energy is stored and hot water can be utilized during daytime as well as night. The result of charging and discharging process of paraffin wax is observed. Basic working behind this system is to store the latent heat of paraffin wax. This heat can then be extracted to raise the temperature of water. The performance of PCM is compared with two different flow rates. This experimental result shows the feasibility of phase changing material as energy storage media.