Market Analysis of Lithium-Ion Batteries for Power System Applications: Strategic Insights and Challenges

The high share of non-controllable and intermittent renewable generation, together with the decommissioning of several fossil-fuel power plants, calls for flexible resources for ensuring system stability and avoiding issues in the power system operation. In this context, the storage systems are seen as fundamental assets to decouple the instant in which the electricity is generated and the one in which it is consumed. Hence, in recent years the storage market has experienced significant growth and attracted great interest.