Profit analysis of finnish energy storage group

What is the future of energy storage in Finland?

Reserve markets are currently driving the demand for energy storage systems. Legislative changes have improved prospects for some energy storages. Mainly battery storage and thermal energy storages have been deployed so far. The share of renewable energy sources is growing rapidly in Finland.

What factors influence the development of energy storage activities in Finland?

Several parameters are influencing the development of energy storage activities in Finland, including increased VRES production capacities, prospects to import/export electricity, investment aid, legislation, the electricity and reserve markets and geographic circumstances.

Is energy storage the future of wind power generation in Finland?

Wind power generation is estimated to grow substantially in the future in Finland. Energy storage may provide the flexibility needed in the energy transition. Reserve markets are currently driving the demand for energy storage systems. Legislative changes have improved prospects for some energy storages.

Which energy storage technologies are being commissioned in Finland?

Currently, utility-scale energy storage technologies that have been commissioned in Finland are limited to BESS (lithium-ion batteries) and TES, mainly TTES and Cavern Thermal Energy Storages (CTES) connected to DH systems.

Which energy storage concept is most profitable in Finland?

In Finland, network storage is currently the most profitable energy storage concept from the studied options. Highlights can increase self-sufficiency up to 5 p.p. with measured electricity flow. A physical battery with a 20 kWh capacity can increase self-sufficiency up to 30 p.p.

Is Finland a good market for storage as a service business?

The Finnish market has some specific characteristics that make it an interesting target as a case study regarding storage as a service business. Finland is the first country in the world to have adopted smart electricity metering (hourly metering and remote reading) on a full scale.