It is a fine idea. A capacitor could buffer the charge going into the battery, as originally proposed, or help out a traction battery. Being more efficient than the battery, it could not only accept braking overloads, but handle all the stop and go work more efficiently.
A cheaper option might be mechanical storage. Springs are heavier than capacitors for the same energy, but for a 30-0-30 system, they still would not weigh a lot.
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