With the increasing capacity of wind power plants (WPP) and photovoltaic (PV), the impact of output characteristics such as randomness, volatility and intermittency on the safe and stable operation of the power system is intensified, and the peak-valley difference of load gradually increases. With the flexible and fast charge-discharge characteristics, energy storage can effectively suppress the intermittent fluctuations of new energy power generation. In view of the net load changes brought by large-scale new energy grid-connected, this paper analyzes the mode of action of energy storage participating in peak shaving. Combined with multi-source peak shaving paths such as concentrated solar power plant (CSP), hydropower station (CHS) and energy storage (ES), this paper builds an optimization model of ES participating in multi-source peak shaving, and builds a two-stage scheduling model of multi-source peak shaving. Finally, Qinghai is selected as a typical application scenario to analyze. The results show that the proposed multi-source peak shaving optimization model can promote the grid connection of WPP and PV, and establish the multi-source peak shaving market trading mechanism.