Benchmark Report6 days agoFog and floods limit battery revenues as solar output drops and gas leaves the supply stack in favor of imports.
Research17 Dec 2025Investment boards evaluating battery energy storage projects face a fundamental credit decision between standalone and co-located configurations.The two arrangements are on opposite ends of the risk-reward spectrum when it comes to merchant revenues. S...
Benchmark Report03 Dec 2025Merchant revenues for CAISO’s batteries averaged $1.95/kW-month in November 2025. That’s the lowest value of the Modo Energy BESS CAISO index on record. The next-lowest index reading is $2.26/kW-month, seen last December.Average revenues fell $1.37/kW ...
Benchmark Report06 Nov 2025​Grid-scale batteries in California earned $2.99/kW-month in merchant revenues during the month of October 2025.That’s $0.44/kW-month higher (+17%) than September 2025. This marks the third consecutive month of growth.​However, fleet-wide merchant reve...
