Good question. I have mine on hooks too, but I keep the curtains shut in my sewing room unless I am in there so I don't think sun will be an issue for mine.

I also have mine hanging on hooks on the wall. Never thought that they could get damaged that way. Curious what others think.

I have mine on hooks also but they hang on a wall out of direct sunlight.
Good question

Mine are on the floor to the left of my machine in a wooden kitchen pot lid rack. Quite easy to grab, even without looking!

Mine are stored in a drawer under the machine's table.

I've had mine on hooks for 15 years without any problem. However, since I got my new machine and it has different hoops but look a lot like my older ones, I've had to start storing them in drawers to keep the hoops/templates separate as I was starting to use the wrong template with the machine I was going to use.

I have mine lying flat in boxes.

Mine are on hooks since we moved - behind the door so they are not seen. Cant say any long time impact since they have not been hanging for long.

Mine are kept in this

Mine are flat in a drawer, one above the other. But now I have 2 magnetics hoops, and I dont know how to store them

Good question. I now have two machines so two different types of hoops, but I keep switching what I do as I would like to hang them up so they are easi;y accessible to me as right now I have one set standing on the floor between my cabinet and my thread storage unit.

I store mine flat in plasticbags [separate] in a drawer