19 September 2024
ERCOT: What did battery energy storage revenues look like in June 2024?
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ERCOT: What did battery energy storage revenues look like in June 2024?
Executive Summary
- ERCOT battery revenues fell 71% month-over-month in June 2024 to $45/kW (annualized).
- Ancillary Service saturation pushed batteries toward Energy arbitrage, which accounted for 28% of total revenues—up from 11% a year earlier.
- Madero Grid 1 (Eolian) was the highest-earning battery, generating more than double the ERCOT BESS Index average.
Subscribers to Modo Energy’s Research will also find out:
- How increased wind and solar generation led to lower Net Load and squeezed price spreads.
- Why two-hour batteries outperformed one-hour systems by 22% on average in June.
- How battery operators are adjusting strategies as ERCOT’s revenue mix shifts away from Ancillary Services.
To get full access to Modo Energy’s Research, book a call with a member of the team today.
Introduction
In June 2024, battery energy storage systems listed on Modo’s ERCOT BESS Index earned average revenues of $45/kW (annualized). This is the last full month for which ERCOT’s market disclosure data exists.
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