Thermochemical energy storage using salt hydrates is a promising method for the efficient use of energy. In this study, three host matrices, expanded vermiculite, expanded clay, and expanded natural graphite were impregnated with a eutectic mixture of CaCl2·6H2O and bischofite (MgCl2·6H2O). These composites were subjected to various humidity conditions (30–70% relative humidity) at 20 °C over an extended hydration period to investigate their cyclability. It was shown that only expanded natural graphite could contain the deliquescent salt at high humidity over 50 cycles. Hence, the expanded natural graphite composites containing either CaCl2·6H2O or CaCl2·6H2O/bischofite eutectic mixture were placed in a lab-scale open packed bed reactor, providing energy densities of 150 and 120 kWh/m3 over 20 h, respectively. The eutectic composite showed slightly lower temperature lift, water uptake rate, and power output but at reduced cost. Using the eutectic mixture also decreased the composite’s dehydration temperature at which the maximum mass loss rate occurred around 16.2 °C to 62.3 °C, allowing recharge using less energy-intensive heating methods. The cost of storing 1 kWh of energy with expanded natural graphite composites is only USD 0.08 due to its stability. This research leveraging cost-effective composites with enhanced stability, reaction kinetics, and high thermal energy storage capabilities benefits renewable energy, power generation, and the building construction research communities and industries by providing a competitive alternative to sensible heat storage technologies.