In this study, a laboratory-scale prototype of a borehole field has been designed and built to assess various innovative grouting products in a fully controlled environment. Three novel grout formulations are developed and evaluated: enhanced grout, a mixture of enhanced grout and microencapsulated phase change material, and a mixture of enhanced grout and shape stabilized phase change material. The objective is to evaluate the enhancement in their thermal properties (i.e., thermal conductivity and thermal energy storage capacity) compared to those using a commercial reference grout. Besides, three-dimensional numerical modeling is performed to provide a better understanding of the heat transfer and phase transition inside and outside the grout columns and to study the capability of the developed grouts to be used in a borehole heat exchanger or as borehole thermal energy storage system. To the best of the authors' knowledge, there have been just a few numerical studies on using phase change materials inside borehole heat exchangers to assess thermal energy storage applications. The experimental and numerical results showed much higher efficiency of the grout developed with a high thermal conductivity than the reference grout in terms of heat transfer in both the grout column and the surrounding sand. Furthermore, the results indicated the noticeable influence of the microencapsulated phase change material's presence in the grout formulation in terms of heat absorption/storage during the phase transition (from solid to liquid). However, it is concluded that reengineering shape stabilized phase change material should be conducted to make it more appropriate for thermal energy storage applications.