Ever wondered how we put together the Modo Leaderboard? Where do we get the figures? What assumptions and estimations do we make? Why is the Leaderboard laid out in the way it is? You can now read our Leaderboard documentation - it’s a bit like an FAQs section, and it will hopefully answer any questions you might have. That said, despite trying to cover all bases, there are bound to be things we’ve missed. Please don’t hesitate to get in touch with us - either via Intercom (that blue circle in the bottom-right corner of your screen) or LinkedIn - if you have any further questions!
Back in 2019, Modo started with a simple question:
How much money do battery energy storage system assets in Great Britain actually make?
And while this sounds pretty straightforward, we were amazed at how challenging it was to answer. There are variabilities in battery performance, constantly changing markets, the continual development of new markets, and evolving strategies between asset operators.
We believe that to transform our global energy systems, greater visibility is needed for people to see and understand more. That’s why we made the Leaderboard- to allow unparalleled visibility into the commercialisation of battery energy storage systems (BESS). The Leaderboard helps users to:
- compare the relative performance of BESS assets across GB;
- identify the most lucrative markets and strategies; and
- understand how owners and operators are making most of the revenue agility that makes BESS so interesting.
Transparency is at the heart of everything we do at Modo. So, to help our users understand the Leaderboard in greater detail, we have published documentation detailing the underlying assumptions and methodology of how each section of the Leaderboard is calculated. You can read the documentation in full here.
Below is a quick overview of what you can expect in our new documentation.
Overview
The process for building the Leaderboard looks a little like this:
- Identifying assets - Finding as much information about as many battery energy storage sites as we can (including which markets they operate in).
- Data collection - Sourcing, cleaning and processing data for each of those markets.
- Creating asset schedules - Matching each asset to its contracts, trades and positions, to create a schedule of what it's doing at all times.
- Calculating asset charges - Calculating charges based on each asset's location and connection type.
- Quality assurance - Aggregating the half-hourly schedules and asset charges to produce the Leaderboard, and performing quality assurance tests.
- Publishing the Leaderboard - Sharing the finalised version of the Modo Leaderboard.
Each of these stages comes with its own challenges. In the documentation, you can learn in detail about each component that makes up the Leaderboard, enabling you to further understand how the Leaderboard can be used as a tool for asset success.