The increased grid-penetration levels of energy produced by renewable sources, which have almost no inertia, might have a negative impact on the reliable and stable operation of the power system. Various solutions for mitigating the aforementioned problem were proposed in the literature. The aim of this paper is to evaluate the technical viability of utilizing energy storage systems based on Lithium-ion batteries for providing inertial response in grids with high penetration levels of wind power. In order to perform this evaluation, the 12-bus system grid model was used; the inertia of the grid was varied by decreasing the number of conventional power plants in the studied grid model while in the same time increasing the load and the wind power penetration levels. Moreover, in order to perform a realistic investigation, a dynamic model of the Lithium-ion battery was considered and parameterized. All the studies were performed in real time on a laboratory setup composed of RTDS and dSPACE platforms.