Energy storage systems are crucial for addressing the power balance challenges posed by the variability of renewable energy sources. They enhance the integration and capacity to absorb renewable energy, fostering its growth. The scope of energy storage applications is expanding from utility and grid operators to end-users. For industrial and commercial users, revenue from energy storage can come from peak-shaving, load management, and various subsidies. Business models range from independent investment to shared leasing and financial leasing. Economic assessments are vital for making informed investment decisions. A case study of a Zhejiang manufacturing firm's load pattern suggests a distributed energy storage solution. Financial analysis indicates that, without subsidies, the project can achieve an internal rate of return of 15%, and 26% with subsidies, demonstrating strong investment potential. The study also explores how factors like initial investment, operational hours, and financial discount rates affect the project's economic viability. It underscores the need for tailored energy storage investment decisions based on local economic policies, technical capabilities, and operational conditions. The proposed economic evaluation model serves as a valuable tool for selecting business models and assessing the financial feasibility of energy storage projects, highlighting the strategic role of energy storage in the new energy landscape.