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Installing energy storage systems (ESS) for firming wind farm power can bring many benefits to both power grids and wind power developers. The grids benefit from better-behaved wind farms with less negative impacts while the wind power developers benefit from increased revenues. This study develops an analytical approach to determine the rating of ESS for the application. The approach effectiveness is validated by a case study where the ESS optimal ratings for eight wind farms are determined. The study also provides an economic analysis to estimate the profitability of the ESS projects. The approach proves to be a simple and flexible guide for solving the ESS-sizing problem. The quantitative results show that the ESS-application could be profitable. The study also reveals the need to further define and establish benefit criteria for ESS-related application with wind farms.