The key to achieving the goals of “carbon peak and carbon neutrality” lies in the economic and efficient operation of urban power grids. However, factors such as the increase of volatile new energy and the widening of load peak-valley differences bring challenges to urban power grids. Traditional power generation units maintain the stable operation of the power system by frequently adjusting their output, which is not only inefficient but also faces a shortage of adjustable resources. As an important part of the total electricity consumption of the urban grids, the air conditioning system of commercial buildings has the potential to act as an adjustable resource involved in grid regulation. Simultaneously, with the thermal storage characteristics of buildings, it can carry out regulation while meeting the comfort needs of indoor temperature for users, demonstrating its immense potential. In order to better tap into the regulatory capacity of the air conditioning system in commercial buildings, the case of both the single and aggregated models of typical commercial building air conditioning systems is shown, and the methods for assessing the potential of these systems for regulation and their control technologies are outlined. A comparative analysis of typical commercial building air conditioning system demonstration projects both at home and abroad is made, and some suggestions and prospects based on the current development situation are also provided.