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.