Transmission
The state of storage in ERCOT with Brandt Vermillion (Market Lead @ Modo Energy)
May 2, 2024
Brandt Vermillion, ERCOT Market Lead at Modo Energy, dives into the dynamic landscape of battery energy storage in Texas. He reveals that ERCOT's storage capacity has surged past 4GW and is projected to hit 10GW by the end of 2024. The conversation covers peak demand trends, the impact of renewables, and how batteries are optimizing market participation. Brandt also highlights the differences in volatility between ERCOT and Great Britain, offering insights into strategies employed by major industry players as they navigate this rapidly evolving market.
31:34
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Quick takeaways
- Battery storage capacity in ERCOT has surged to over 4GW, primarily driven by favorable economic conditions and enhanced project construction rates.
- As competition within the ancillary services market grows, battery operators will need to adapt to shifting dynamics to maintain profitability amidst potential revenue saturation.
Deep dives
Rapid Growth of Battery Storage Capacity
Battery storage capacity in Texas has seen remarkable growth, reaching over 4 gigawatts, a significant increase from just a couple of hundred megawatts in early 2021. This rapid escalation illustrates a twelvefold increase in capacity, with projections suggesting it could double again by the end of 2024. The impressive growth is attributed to several factors, including enhanced project construction rates and the overall positive economic environment for energy storage development. With Texas outpacing other regions, the trend indicates a strong commitment to expanding battery storage infrastructure.
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