This paper presents a design analysis framework for a transient cold storage unit that uses solid-liquid phase change for thermal storage. The analytical framework developed in this study establishes non-dimensional parameters that dictate the energy efficiency of the transient energy input and extraction processes, and specifies the links between physical parameters for the system and dimensionless parameters. The resulting governing equations in non-dimensional form are partial differential equations that can be solved numerically. Solutions of the equations predict the thermodynamic efficiency (effectiveness) of the energy storage and retrieval processes, and the time required to input or extract energy from storage for specified values of the dimensionless parameters. The paper illustrates how a high efficiency design target can be established for specified operating conditions using this framework. Application of this framework to a typical example application involving cold thermal storage is described, and the usefulness of this methodology is demonstrated. The use of this methodology for predicting the performance of cold thermal storage for a broad range of potential applications is also discussed.