Transmission
BESS in GB - Getting to 3 gigawatts with Wendel Hortop (Markets Lead @ Modo Energy)
Aug 2, 2023
Wendel Hortop, Markets Lead @ Modo Energy, discusses the size of GB battery fleet, differences in UK market, revenue generation by batteries, and the changing operations of batteries as more capacity comes online
19:40
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Quick takeaways
- The British battery market has reached a significant scale driven by private companies and disruptive private equity firms, without specific government subsidies, and is globally leading in terms of battery storage capacity.
- The future for batteries in the UK includes trading in balancing mechanisms, responding to more volatile energy markets, and exploring new products and revenue opportunities.
Deep dives
The Scale and Maturity of the British Battery Market
The British battery market has reached a significant scale, with new battery projects being built at a scale comparable to other traditional forms of energy generation. The market has matured both in terms of its scale and the recognition of batteries as a form of energy infrastructure in the regulatory framework. Large energy majors and private companies specializing in battery storage are investing in battery projects. The UK has reached three gigawatts of grid-scale battery storage capacity, which can contribute a substantial amount of power to the grid, equivalent to keeping the lights on in about a tenth of all British homes.
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