Executive Summary

• ERCOT battery revenues fell to $23/kW (annualized) in July 2024, marking a 67% decrease from the first half of 2024.
• For the first time, average battery revenues from the Day-Ahead market surpassed those from Real-Time trading, as DART optimization strategies expanded.
• Jupiter Power, Plus Power, and Hunt Energy Network owned the highest-earning batteries, with the top-performing sites earning over half their revenue from Energy markets.

Subscribers to Modo Energy’s Research will also find out:

• How Day-Ahead Energy trading outperformed Real-Time markets and reshaped battery dispatch strategies.
• Why Plus Power outperformed Engie in DART optimization, earning higher net revenues from Day-Ahead Energy.
• How declining Ancillary Service revenues have pushed battery operators to adopt more complex Energy arbitrage strategies.

To get full access to Modo Energy’s Research, book a call with a member of the team today.

Introduction

In July 2024, battery energy storage systems listed on Modo’s ERCOT BESS Index earned average revenues of $23/kW (annualized). July is the last full month for which ERCOT's market disclosure data exists (it is published 60 days after the fact).