A storage module and method for scheduling memory operations for peak-power management and balancing are provided. In one embodiment, a storage module maintains a count of time slots over a period of time. The period of time corresponds to an amount of time between periodic power peaks of a memory operation. For each time slot, the storage module determines whether to commence a memory operation on one or more of the plurality of memory dies based on whether a power peak generated in the time slot by the memory operation would exceed a power threshold allowed for the time slot. Other embodiments are provided.