Abstract: As one of the important means of power demand side management, time-of-use pricing (TOU) is playing an increasingly important role in the economic management of the power industry around the world. Using time-of-use electricity prices can achieve peak shaving and valley filling, peak shifting and valley leveling, slow down power investment on the generation side, improve power supply reliability, and reduce user electricity bills. This article analyzes the economic benefits of distributed photovoltaic and energy storage systems based on the time-of-use electricity price in Shandong Province at different energy storage batteries and at different times, studies their economics, and puts forward suggestions.