This work evaluates the techno-economic feasibility of integrating the cold energy storage system and the electrical energy storage system in a refrigerated warehouse for shifting the power consumption. A dynamic model has been developed in TRNSYS (R). Based on the dynamic simulation, the performance and benefit of those two types of energy storage systems were compared. Results showed that, the integration of a cold energy storage can reduce the electricity consumption and operational cost by 4.3% and 20.5%, respectively. Even though integrating a battery system will increase the electricity consumption by 3.9%, it can reduce the operational cost by 18.7%. The capacity of the energy storage systems, the battery price and the peak electricity price had been identified as key parameters affecting the performance and benefit. To achieve a payback period less than 3 year, for the integration of a cold energy storage system, the peak electricity price should be increased by 25% from the current level, while for the integration of a battery system, the battery price should drop to 0.7 kRMB/kWh.