A theoretical study was conducted to assess the thermal performance of a ventilated panel heating unit. The unit employs the latent heat energy storage method to level the electrical energy demand for domestic space heating during peak hours. A one-dimensional, semi-empirical model was developed to predict the dynamic thermal behavior of the storage unit under cyclic melting and solidification. The results show that the storage unit may be charged and discharged more than twice a day with a charge time shorter than the discharge time. The temperature of the plate in contact with the ambient air may be controlled to reach higher values without compromising the unit heating power. General correlations of the charge and discharge times are established for a wide range of the governing parameters.