Abstract:

Energy storage has gained significant attention due to its ability to support large-scale integration of renewable energy sources (RES) and enhance modern electricity systems. This thesis examines the value of emerging energy storage applications, including pumped hydro storage, compressed air energy storage, and battery technologies, while developing innovative dispatch strategies, financial instruments, and policy support mechanisms. The study explores applications for private actors, autonomous island grids, and utility-scale systems, focusing on energy market participation, demand side management (DSM), and the integration of storage with renewable energy for reliable and cost-effective power supply.

The research further highlights the role of energy storage in autonomous island grids and large-scale utility systems, where it can improve grid stability, reduce dependence on expensive oil-based generation, and support base-load renewable energy integration. In addition, the study investigates the contribution of utility-scale storage to electricity market efficiency, national grid security, and optimized cross-border electricity trade, emphasizing its importance in future sustainable energy planning.