A combined heating and refrigeration system (HRS) with off-peak thermal energy storage is proposed for load shift of electrical grids and efficiency enhancement of power generation. We show that the average electricity load rate (AELR) of power grid in Beijing area could be increased from 80.56% to 100% in summer, and from 83.10% up to 90% in winter, if 10% the residential central heating / cooling systems uses the HRS technology.