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The increasing penetration of intermittent Renewable Energy Sources (RES) such as PV generators in the residential distribution grid raises technical concerns. Residential energy storage is an enabling technology for mitigating the adverse effects of the increasing RES penetration and provides the necessary flexibility for its owner to participate in electricity markets or in market-based control schemes. This paper presents a model for calculating the “cost of use” for Li-Ion batteries. The cost of use depends on the usage pattern of the battery, indicated by the Depth of Discharge (DoD). Knowledge of the “cost of use” is needed for the economic optimization of the PV-storage system and the bid formulation in the electricity market.