*1.1. Problem Statement*

With the increasing addition of renewables, the requirements for flexibility in power networks have increased. During periods of high renewable penetration, flexible resources, such as fossil-fueled plants, are not available. This reduces system inertia and reserves due to which system flexibility and resilience are compromised. Furthermore, the frequency of high-impact events such as storms, forest fires, and cyberattacks has increased in recent years [1]. To cope with these disturbances, flexible resources are required. Although battery energy storage is a solution, the scale of battery storage required for utility-scale PV or wind projects presents a technoeconomic barrier [2].
