The first six months of 2024 have seen lots of updates for battery energy storage. Despite buildout levels being lower than anticipated, the sector has experienced several impactful changes that have influenced both operations and revenue potential. In today’s episode, we explore the headlines and take a look at the factors driving these.

Modo Energy’s Director of Data Science, Robyn Lucas, and Market Analyst, Shaniyaa Holness-McKenzie share a round-up of the first half of 2024. Over the course of the conversation, they discuss:

• The reasons behind delays in battery buildout and projections for the next quarter.

• Revenue trends from January to June and the driving factors behind these trends.
• New markets for Battery Energy Storage Systems (BESS), with a spotlight on Balancing Reserve.
• Significant market changes, including the Open Balancing Platform's bulk dispatch tool and the 30-minute rule's impact on increasing battery dispatch volumes.
• An overview of capacity market results and potential reforms.
• And much, much more.

Mentioned in the episode.

• Analysis exploring the correlation between battery revenues and wind generation in Great Britain.

• Podcast: Tolling agreements and the wider market impacts with Ben Guest (Managing Director, New Energy & Fund Manager @ Gresham House Energy Storage Fund)

• Podcast: REMA review with Wendel Hortop and Robyn Lucas (Modo Energy)

About Modo Energy

Modo Energy provides benchmarking, forecasts, data, and insights for new energy assets - all in one place.

Built for analysts, Modo helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets. Modo’s paid plans serve more than 80% of battery storage owners and operators in Great Britain and ERCOT.

All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on Linkedin or Twitter. Check out The Energy Academy, our video series of bite-sized chunks explaining how different battery energy storage systems work.