Abstract: The unbalanced connection of large-scale residential PVs integrated into distribution station area will result in issues such as voltage violation, increased three-phase imbalance and increased network losses. These issues can be effectively solved through the installation of energy storage devices on the user side. In this paper, we propose an optimal dispatching method of decentralized energy storage in distribution substations with a high proportion of PVs considering the equilibrium of benefits of multiple subjects, to address the inconsistency between the interests of low-voltage users and the power grid during the optimal dispatch of energy storage. A comprehensive satisfaction optimization model considering the balance of grid-user benefits is established by considering low-voltage three-phase four-wire network structure and energy storage degradation, taking the maximum sum of satisfaction of the distribution network and users as the objective function and the active power of energy storage as the control variable. The power grid satisfaction function is constructed according to the distribution network loss, user energy storage compensation cost, and three-phase imbalance. Similarly, the user satisfaction function is established based on user electricity cost and energy storage degradation cost. The CPLEX software is utilized to solve the comprehensive satisfaction optimization model. The simulation results of the 21-node distribution station area demonstrate that, compared to solely considering the interests of the power grid or the interests of users, the method proposed in this paper effectively strike a balance among the grid-user benefits, while significantly improving the voltage limit and three-phase imbalance issues.