Energy Storage and the Green Transition: An Exploration of the Technology Selection Decision in the Arctic Region

Abstract

The Arctic region faces both challenges and opportunities in the green transition. Grid and electricity price stability, renewable adoption, and electric vehicle infrastructure highlight the need for resilient energy networks. Energy Storage emerges as a solution to ensure reliability and enable decentralization. This study aims to explore energy storage-related technology selection decisions, which are currently dominated by financial and technical perspectives. Incorporating the social, environmental, resilience, and arctic-specific considerations (i.e., harsh climate conditions, remote rural areas with sparse population), a decision analysis model will be developed to refresh the managers' and policymakers' perceptions of the infrastructure development in the region. The scope includes decisions at the strategic level with a medium- to long-range impact.