中国用户侧储能项目的经济性受限于初始投资高昂和峰谷价差不足，对政府补贴的依赖增加。通过构建用户侧储能的经济效益模型及补贴效果评价模型来确定适合中国用户侧储能的补贴方式。首先，结合用户侧储能的盈利模式对中国各地区的分时电价政策、新型储能补贴政策进行梳理；其次，结合现状构建考虑不同补贴方式的用户侧储能经济效益模型，同时引入补贴弹性概念，构建补贴效果评价模型；最后，选取东北某地区工商业储能项目实际数据进行算例分析。研究结果表明，对用户侧储能采用放电量进行补贴对项目经济效益的提升最为明显，若想保持用户侧储能稳定和可持续的收益，还须拓宽用户侧储能的收入渠道。

The economic viability of customer-side energy storage projects in China is constrained by high initial investment costs and limited peak-valley price spreads, resulting in a heavy reliance on government subsidies. This paper constructs an economic benefit model for customer-side energy storage and a subsidy impact evaluation model to identify the most effective subsidy approach for such projects in China. First, the paper reviews time-of-use (TOU) electricity tariffs and new energy storage subsidy policies across different regions of China. Second, an economic benefit model is developed that accounts for various subsidy approaches, incorporating the concept of subsidy elasticity to establish a subsidy impact evaluation model. Finally, a case study is presented using actual data from a commercial and industrial energy storage project in a northeastern region. The results indicate that providing subsidies based on discharge volume significantly improves the economic benefits of customer-side energy storage projects. To ensure stable and sustainable returns for these projects, it is also essential to diversify revenue streams.