Concentrated solar power (CSP) plants convert sunlight into high-temperature heat, which can be used for production of solar fuels. One of the key aspects to enable economically viable solar fuel production is the implementation of a thermal energy storage (TES) unit that enables stable and round-the-clock operation of thermochemical reactors. Current CSP plants are under broad industrial development; however, adapted TES materials and systems are still not available specifically for high temperature applications above 1000 °C. This study targets the selection of cost-effective ceramic-based storage and insulation materials that are compatible with the high temperatures and can withstand multiple heat charging/discharging cycles using steam as heat transfer fluid. In this context, commercially available alumina, mullite and magnesia based storage materials were selected and their compatibility with steam was assessed in a high-temperature corrosion setup. Corrosion resistance of the selected materials were tested at 1250 °C for 500 h in a cyclic manner. Additionally, materials were tested also under air atmosphere (without steam flow) as a reference case for comparison purposes. Weight and volume of each tested specimen were measured after each test run to follow the degradation in the selected materials upon steam exposure by time. The changes in phase composition and morphology were evaluated using X-ray diffraction (XRD), optical and scanning electron microscopy techniques before and after corrosion tests. Steam corrosion tests indicated that vibro-casted refractories are more prone to gain weight upon steam exposure when compared to hydraulically pressed refractories; however, overall phase composition was changing only marginally during corrosion testing for mullite based refractories. On the other hand, in the case of magnesia-based refractories, a white layer formation was observed on the tested specimens and the phase change was more prominent compared to mullite based refractories. Formation of calcium magnesium silicate (CaMgSiO4) and magnesium silicate (Mg2SiO4) was detected after corrosion tests, as confirmed by XRD.