What drives the deployment of battery-based energy storage projects in Sweden and Finland, and how do those projects create value for investors and society alike? The region is striving to become Europe’s clean energy hub and is gaining leadership in the green transition of industry. Battery-based energy storage is a vital addition to the Nordics’ energy system to integrate an even higher share of renewable energy from abundant wind and hydropower.
In this article, we discuss how favourable conditions – such as a dynamic and appealing frequency regulation market – are laying a solid foundation for energy storage in Sweden and Finland. We also detail how these countries tick many boxes for guaranteeing a sustainable, long-term business case for energy storage and why energy producers and other stakeholders who start investing in energy storage can now earn attractive incomes from balancing markets.
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