@Ken,
Yep, the timeshift is the main advantage and allows the smoothing of
demand across the grid, if every home or at least sub station could
store enough electricity for 5-10 minute surges at peak times(kettle
at half-time being the classic) then the need for Short Term Operating
Reserve is reduced. Though the conversion is inefficient at face
value the reduction in the need for STOR which is a much higher cost
per kWh should reduce generating cost, which *could* then be passed on
to consumers.
Some hope, but there you go.
Cheers
Ian