Before revision:  Additionally, a correct recognition of the barriers and advantages by all the stakeholders, including the system /  market operator, policy maker, investor, and project manager, is the key factor to promote battery storage technologies in grid-connected applications.
After revision:  Additionally, a correct recognition of the barriers and advantages by all the stakeholders, including the system / MWh to make the potentially profitable utilization rate higher than 20\%. Nevertheless, the potentially profitable utilization of batteries is much higher in the applications when higher flexibility is demanded. The minimum required battery wear cost corresponding to 20\% potentially profitable utilization time increases to 35 Euro/MWh for energy arbitrage within the day-ahead market and ancillary services, and 50 Euro/MWh for upward secondary reserve. The results of this study contribute to the awareness of battery storage technology and its flexibility in grid applications. The findings also have significant implications for policy makers and market operator, policy maker, investor, and project manager, is the key factor to promote battery storage technologies in grid-connected applications.