Due to the rising living standards and comfort levels at global scale and the increase in the time spend indoors, cooling of buildings has become a significant initial investment and operating cost item. The ever-increasing use of wind turbines and their increasing contribution to nighttime electricity generation brought about an increasing nighttime surplus of electricity generation, which adds to the attraction of shifting power consumption to night hours. This situation increases interest in the time-shifting applications in energy use such as electrical energy storage in batteries and cold storage in ice, also called ice storage. In this work, the performance of the ice storage system integrated to the air conditioning system of the GIMSA hypermarket in Ankara, which is the first high-capacity ice storage integrated air conditioning system of Turkey, is studied thermodynamically and economically. Based on the analysis of the data collected over the four years of operation, it is found that the ice storage system at GIMSA hypermarket facility has paid back its initial cost within the first 3 years of operation. The system has been operating since 2016 without any loss of performance, and continuing to reduce the GIMSA’s air conditioning energy cost by about half each year.