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Time of use (TOU) pricing is considered by many to be a key part of creating a more energy-efficient and renewable-energy-friendly grid. TOU pricing is also an integral part of the smart grid and is already available to customers of some electric utilities. With TOU pricing becoming a reality, intelligent dispatching systems that utilize energy storage devices (ESDs) to maximize the use of renewable resources, such as energy produced by small, customer owned wind generators and roof-top solar generators, and grid energy while determining the most economic dispatch schedule could play an important role for both the customer and the utility. The purpose of this work is to create an algorithm upon which these dispatching systems can be based. The details of one proposed algorithm are presented. Several case studies are presented to show the effectiveness of the algorithm from both a technical standpoint and an economic standpoint. The case studies show that while the algorithm developed is successful from a technical standpoint, the high cost of energy storage at this time limits its widespread deployment. [ABSTRACT FROM PUBLISHER]