1. A computerized method for controlling operation of an energy storage system to shave peak loads at a substation transformer using a computer, the method comprising:(a) retrieving from a first database, using the computer, first historical data relating to a historical load at the substation transformer;

(b) retrieving from a second database, using the computer, second historical data relating to historical ambient temperature at a location of the substation transformer;

(c) receiving at the computer a physical model of the substation transformer comprising transformer thermodynamic equations;

(d) receiving at the computer information relating to pricing/penalty schemes for accelerated wear of the substation transformer;

(e) receiving at the computer information relating to a premium for deferring upgrade of the substation transformer;

(f) receiving at the computer one or more possible configurations for the energy storage system;

(g) receiving at the computer one or more possible operating strategies of the energy storage system to keep a transformer load at the substation transformer below a maximum transformer rated value;

(h) receiving at the computer a cost model for the energy storage system;

(i) calculating, using the computer, a transformer windings temperature of the substation transformer by solving the transformer thermodynamic equations using at least one of the first historical data, the second historical data, the information relating to pricing/penalty schemes, the information relating to the premium for deferring upgrade of the substation transformer, the one or more possible configurations for the energy storage system, the one or more possible operating strategies of the energy storage system, and the cost model for the energy storage system;

(j) calculating, using the computer, an accelerated wear of windings insulation of the substation transformer using the transformer windings temperature;

(k) quantifying, using the computer, a relative wear for each of peak overloads at the substation transformer;

(l) identifying, using the computer, periods of time when the substation transformer is not overloaded and energy storage system recharge is possible;

(m) identifying, using the computer, idle times when operation of the energy storage system operation is not permitted;

(n) calculating, using the computer, an optimal allocation of available capacity of the energy storage system using at least one of the first historical data, the second historical data, the information relating to pricing/penalty schemes, the information relating to the premium for deferring upgrade of the substation transformer, the one or more possible configurations for the energy storage system, the one or more possible operating strategies of the energy storage system, the cost model for the energy storage system, the accelerated wear, the periods of time, and the idle times, wherein the optimal allocation of available capacity of the energy storage system mitigates the peak overloads at the substation transformer to minimize transformer wear and minimize a cost of operating the energy storage system and the substation transformer; and

(o) directing, using a controller comprising digital electronic circuitry or computer hardware, the energy storage system to charge or discharge an energy storage asset in accordance with the calculated optimal allocation of available capacity of the energy storage system, wherein the energy storage asset is charged or discharged in accordance with the calculated optimal allocation of the available capacity of the energy storage system.