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As interest in deploying Battery Storage systems (BSSs) grows, a significant challenge is to determine the specific services that the BSS should provide to maximize profits. This study aims to determine the most profitable strategy and size of integrated grid-connected BSS with and without PV park for participating in Day-Ahead Market (DAM) and Frequency Regulation Market (FRM). The Frequency control services activate in response to changes in the electricity grid frequency, with BSS supporting during frequency fluctuations. The focus of this study is on the primary regulation within FRM. In this study, a BSS operation algorithm is evaluated in economic terms. The algorithm imports inputs like market prices, fees, tariffs, PV production, and chosen BSS service. Economic metrics include Net Present Value (NPV) and Internal Rate of Return (IRR). Real-world data from a Swedish PV park was used for case studies across three categories: BSS stand-alone, PV park alone, and PV-BSS combination. Results highlight that stand-alone BSS scenarios are superior to PV-BSS combination cases, showing a 73% Internal Rate of Return (IRR) for a 1000 kWh/400 kW BSS configuration. PV park alone participation in FRM and DAM shows marginal benefits compared to only acting on the spot market. The sensitivity analysis examining changes in prices for both DAM and FRM relative to 2022 reveals a significant negative change in revenue in 2020, which is explained by the higher and more fluctuating electricity prices. Lastly, the sensitivity analysis explores changes in the acceptance rate of bids in the future relative to 2022, as FCR products will be procured at a marginal price. These analyses indicate potential negative changes that may occur as the acceptance rate may decrease. © Energynautics GmbH.