Abstract: In order to effectively utilize energy storage (ES) devices and improve the accuracy of ES’s switching between multi-application scenarios, this paper proposes a peak-valley time division method based on equal capacity after analyzing ES’s multi-application scenarios and tries to improve the peak-valley time division. In addition, an economically optimized model of ES multi-application scenarios is constructed based on dynamic peak-valley time division, which employs ES to suppress load fluctuation during non-peak regulation, makes ES function normally even in idle hours, and improves ES’s utilization rate and economic benefits. Finally, the simulation analysis shows that compared with the economic model of monotonic peak regulation, the economically optimized model of ES multi-application scenarios can reduce the payback period by 1.17 years. Furthermore, compared with the monotonic peak time division, the dynamic peak-valley time division method can shorten the payback period by 1.75 years, which verifies the feasibility of the method.