Executive Summary

• ERCOT battery energy storage revenues decreased by 75% from August to September 2024 - making for the lowest monthly earnings of the year.
• For the first time, batteries earned the majority of their revenues from Energy arbitrage (58%) as Ancillary Service prices hit a five-year low.
• Deep Greek, a Gore Street Capital battery, earned over four times the ERCOT BESS Index - by capitalizing on nodal basis and local price spikes above $1,000/MWh.

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

• Why longer-duration batteries outperformed one-hour systems despite low volatility.
• Which battery owners adapted best to shifting market conditions and outperformed the ERCOT BESS Index.
• How West Texas batteries continued to lead in revenue due to solar curtailment and industrial demand patterns.

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

Introduction

In September 2024, battery energy storage systems listed on Modo Energy’s ERCOT BESS Index earned annualized average revenues of $22/kW.