Storage shaves off price valleys, as well, by adding demand in off-peak hours. Every kilowatt-hour that's low enough under the peak price will convince someone

Storage shaves off price valleys, as well, by adding demand in off-peak hours. Every kilowatt-hour that's low enough under the peak price will convince someone to buy a battery to time-shift the power. My model is that cheap batteries would drive on-demand power stations out, in favor of batteries + base load.