Estimating potential revenue generation by energy storage systems providing multiple services to the Nordic electricity markets (Finland) through the QuESt Valuation Application
Uzzaman, Md Arafath (2024)
Diplomityö
2024
School of Energy Systems, Sähkötekniikka
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi-fe2024073062956
https://urn.fi/URN:NBN:fi-fe2024073062956
Tiivistelmä
This thesis evaluates the potential revenue generated by energy storage systems (ESS) in the Nordic electricity markets, particularly for the Finland region, using the open-source QuESt Valuation Application developed by Sandia National Laboratories. The study addresses a research gap by providing a comprehensive economic analysis of ESS profitability across various market segments, such as day-ahead, intraday, and regulation markets. The report used a unique optimization model with historical data to calculate the potential revenue from energy arbitrage and frequency regulation.
The findings will impact the way revenue calculations are viewed and the integration of ESS for grid stability, efficiency, and economic development. The breakdown also delves into various energy storage technologies and the Nordic power market, highlighting the crucial role of ESS in supporting renewable energy integration and achieving sustainability goals and growth.
The findings will impact the way revenue calculations are viewed and the integration of ESS for grid stability, efficiency, and economic development. The breakdown also delves into various energy storage technologies and the Nordic power market, highlighting the crucial role of ESS in supporting renewable energy integration and achieving sustainability goals and growth.