Energy Storage
Onshore wind and PV gained momentum in 2022 due to high electricity prices and supply security concerns. However, regular negative power prices reveal the challenges of integrating wind
Methodology To evaluate the financial feasibility of implementing energy storage systems in residential buildings in Nordic climates, the use of energy storage technologies in combination with a solar PV system was modelled for detached houses employing different heating methods in Southern Finland.
That said, the Nordic electricity market offers special opportunities for the efficient and joint management of wind, solar, and hydropower, since hydropower reservoirs, which dominate the Nordic electricity market [ 12 ], can act as electricity storage, and at the same time constitute a very flexible production facility.
During the recent surge in solar PV installations, the Nordic countries – Sweden, Norway, Finland, and Denmark – have increasingly embraced solar PV technology, defying their northern geographical challenges.
Thus, to simulate the use of solar PV systems in Nordic climates, the model included scenarios with both a fixed solar PV capacity of 5 kW, representative of a typical residential solar panel in Finland, as well as with a fixed RF of 49 % for the house, with the solar PV capacity determined accordingly.
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