Modo Energy’s projections indicate that batteries earned average monthly revenues of $5.4/kW in ERCOT in May 2025 - compared to just $3.8/kW in CAISO. Once settlement data is fully released in August through ERCOT’s 60-day delayed disclosure reports, it’s expected to be confirmed that batteries in Texas outperformed their Californian counterparts for the first time since August 2024.
The chart highlights how operators can generally frame revenue profiles in the two markets: stable in CAISO, volatile in ERCOT.
Subscribers to Modo Energy’s Research can access the full monthly US benchmark report to stay in the loop and understand:
- ERCOT Nowcast: Why average BESS revenues are projected to have increased in May - and which sites saw the highest opportunity to benefit from it.
- ME BESS ERCOT: Who earned the highest revenues in Texas in March according the most recent available disclosure data - and what we can learn from it.
- ME BESS CAISO: How do BESS revenues in CAISO compare to ERCOT, and what changed - or stayed constant - in May.
If you have any questions about the content of the article, reach out to ovais@modoenergy.com or brandt@modoenergy.com to get in touch with the US Research team.