The document outlines a technical approach to develop cost analysis modeling for peak shaving of energy storage devices. It involved conducting a literature review on cost analysis and peak shaving models, developing a cost analysis model of a LiFePO4 battery in COMSOL, and defining peak load shaving. Accomplishments included completing the literature review and developing an initial COMSOL lithium-ion battery model. Next steps are to develop a COMSOL model of an LTO-LMO battery, create a peak shaving model, and compare the new model to commercially available ones to reduce load demand and costs.