Smart multi-energy systems based on distributed polygeneration power plants have gained increasing attention for having shown the capability of significant primary energy savings and reduced CO₂ pollutant emissions due to the high renewable energy sources penetration. Compared to the traditional power plants, the large variability in the end-user demands (electricity, heat and cold energy), coupled with the uncertainty in the solar and wind energy availability, require the adoption of energy storage systems for dampening the intermittency problems and for performing peak shaving. In a multi-energy system, energy storage technologies typically exist in the form of electrochemical energy and thermal energy storage. Costs and technological limits of energy storage systems are the key parameters that influence the optimal design and operation of the system. In this paper, by adopting an in-house developed simulation tool (