In order to give full play to the role of energy storage "peak valley arbitrage" in the grid-connected photovoltaic storage microgrid to reduce the operation cost of microgrid, and to reduce the effect of photovoltaic and load power fluctuations on the arbitrage effect, a dual-time scales coordinated operation strategy of photovoltaic storage microgrid source-grid-load-storage is proposed based on time-of-use electric price and with energy storage as the main scheduling control object. In the day-ahead optimal scheduling model, the energy storage system loss costs caused by the frequency and depth of energy storage charging and discharging are considered. The objective function is established with the tareget to minimiz the operation cost of microgrid, and optimize charging and discharging period and amount of energy storage under different photovoltaic outputs and load conditions. In the intraday real-time control model, various photovoltaic outputs and load conditions are divided into different operation scenarios according to the time-of-use electric price mechanism, the energy storage day-ahead scheduling plan and charging and discharging constraints. The calculation formulas of energy storage charging and discharging power in various operation scenarios are given to control the energy storage real-time output, adjust day-ahead output plan and reduce effects of photovoltaic and load power fluctuations on the arbitrage. The proposed control strategy is verified by simulation examples. The results show that the proposed strategy plays a good role of "peak-valley arbitrage" of energy storage, and the operation economy of microgrid is improved. At the same time, the influences of photovoltaic and load power fluctuation are reduced.