Zhejiang Province

leveraging its dual strengths in economic growth and power development

has emerged as a favored investment hotspot for industrial and commercial energy storage.With the release of the new time-of-use electricity price mechanism in January 2024

the potential for peak-valley arbitrage in Zhejiang's industrial and commercial energy storage market has further expanded

enhancing its economic appeal and development prospects.This study conducts a comprehensive analysis of Zhejiang’s policy environment

current development status

market potential

and the impact of the new time-of-use electricity price mechanism on industrial and commercial energy storage.Six energy storage deployment schemes are proposed

and their charging and discharging strategies

as well as peak-valley arbitrage potential

are compared under the new and old time-of-use electricity price mechanisms.The results reveal that

under identical conditions

large industrial users achieve higher peak-valley arbitrage potential with energy storage systems compared to general industrial and commercial users.However

the new pricing mechanism has a more significant effect on enhancing the benefit potential for general industrial and commercial users adopting energy storage systems.