To decarbonize the global economy, solar and wind power plants are being widely implemented in energy systems, with their power generation exhibiting a stochastic nature. This leads to various systemic problems, one of which is the surplus of electricity during periods of low demand. When excess power arises in the energy system and regulatory resources are exhausted, the system operator is forced to limit the output of solar and wind power plants to maintain stability. This results in significant financial losses, as the volume of surplus energy can be substantial. One possible solution to this issue is the implementation of Power-to-Heat technology. Its use in energy systems is undoubtedly beneficial, as it allows for the avoidance of forced power restrictions on solar and wind plants, reduces financial losses, and increases electricity demand during low-consumption periods without requiring additional investments. However, the implementation of this technology in district heating systems is less straightforward. All necessary investments would be concentrated in the district heating sector. The aim of this study is to determine the feasibility conditions for implementing Power-to-Heat technology in Ukraine’s district heating systems and to identify the technological constraints on its application. The research methodology includes project analysis to determine financial performance indicators and technical analysis to identify technological limitations of this technology’s application. The results of the study indicate that the key factors affecting the effectiveness of implementing Power-to-Heat technology in Ukraine’s district heating systems are the cost of natural gas and surplus electricity, as well as the utilization factor of the installed capacity of this technology. The conditions for the feasibility of implementing Power-to-Heat technology are as follows: with surplus electricity priced at 10–20 €/MWh, the utilization factor of the installed capacity should be at least 10–15%, and at 30 €/MWh, it should be no less than 25%. The optimal solution would be the simultaneous use of Power-to-Heat technology for converting surplus electricity from solar and wind power plants, as well as providing ancillary services to the energy system. The main technical limitations for using Power-to-Heat technology in district heating systems are ensuring that the maximum allowable values for temperature, the rate of temperature change, and the volume of accumulated thermal energy in the main networks are not exceeded.