Executive Summary
- ERCOT battery energy storage revenues fell to $33/kW/year in November 2024, a 20% drop from October and nearly 50% below the year-to-date average.
- Real-Time Energy revenues made up 44% of total battery earnings, the highest share recorded, as Day-Ahead Energy spreads fell by 40% due to increased wind generation.
- Jupiter Power’s two-hour duration Swoose battery had the highest earnings in November, with West Texas batteries outperforming other regions due to larger price spreads.
Subscribers to Modo Energy’s Research will also find out:
- How two price spikes on November 10th and 17th impacted battery revenues, and why some batteries missed out.
- Why two-hour batteries outperformed one-hour batteries and what this means for future storage strategies.
- Which battery portfolios and locations earned the highest revenues, and what drove their competitive advantage.
To get full access to Modo Energy’s Research, book a call with a member of the team today.
How much did battery energy storage systems in ERCOT earn in November 2024?
In November 2024, battery energy storage systems listed on Modo Energy’s ERCOT BESS Index earned average annualized revenues of $33/kW/year.
This marked a 20% decrease from October when revenues reached $42/kW/year. Additionally, this was only around half of the year-to-date average of $61/kW/year.