With the growing global demand for sustainable energy solutions, energy storage technology is playing an increasingly important role in power systems. It not only improves the flexibility and reliability of the power grid, but also effectively promotes the efficient utilization of renewable energy. However, the lifetime of the energy storage system will directly affect the benefits of the integrated energy system. This chapter focuses on the impact of the lifetime of the energy storage system on the benefits of the “wind and light storage” energy system, with a view to maximizing the benefits of the energy storage system and optimizing the capacity allocation. This chapter establishes a lifetime model based on the depth of the battery by comparing the aggregated energy storage system (AESS) and the distributed energy storage system (DESS), selects typical days in different seasons, analyzes the difference between the battery charging and discharging and the power interacting with the grid, and compares the annual returns of the two systems. The results show that the annual revenue of the centralized energy storage system is 5.1% higher than that of the distributed energy storage system, which is about RMB 158.5 million under the premise that the installed capacity of wind power and photovoltaic (PV) is 400 MW and 700 MW, respectively.