Minimizing Wind Power Producer's Balancing Costs Using Electrochemical Energy Storage: Preprint

This paper examines how electrochemical energy storage can be used to decrease the balancing costs of a wind power producer in the Nordic market. Because electrochemical energy storage is developing in both technological and financial terms, a sensitivity analysis was carried out for the most important variables in the wind-storage hybrid system. The system was studied from a wind power producer's point of view. The main result is that there are no technical limitations to using storage for reducing the balancing costs. However, in terms of economic feasibility, installing hybrid wind-storage systems such as the one studied in this paper faces challenges in both the short and long terms.