Transmission

We love talking about batteries and energy in the office so why not open the floor to our listeners? Ever wondered what the end game is for battery storage, or what’s new in cell chemistries?

In our ‘mailbag’ series, we’ll answer your questions on a range of subjects. Ask us a question here.

In this episode Modo Energy Director, Ed Porter and Market Analyst, Shaniyaa Holness-McKenzie cover:

• The recent advancements in storage technology and where they are being adopted in practice.
• How AI is changing the way battery energy storage systems are optimised.
• Interconnectors and how increased renewable penetration in all countries will impact revenues.
• What a change of government could mean for batteries energy storage.
• and much, much more.

Ask us a question - We’d love to hear from you!

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.

The inevitable reality is that hard-to-abate sectors will still be producing carbon emissions by the goal date of net zero by 2050. Until these sectors can decarbonize their emissions, alternative methods must be applied to reduce the amount of carbon released by these processes. Under the umbrella term ‘carbon capture, utilization and storage’ or CCUS, the process of capturing the carbon produced by industry is another tool in the toolbox of removing carbon emissions from the atmosphere.

In today’s episode, Quentin is joined by Olivia Powis - UK director at CCS Association. Over the course of the conversation, they discuss:

• The premise of CCS and how this technology is vital in decarbonizing hard-to-abate sectors.
• What needs to be considered when installing the infrastructure, the challenges with retrofitting.
• How each stage of the process works.
• Factors to consider when locating a carbon capture site and how the UK is lowering risk. around buildout.
• A look at the first large-scale projects and when we could see them delivered.

About our guest

The CCSA is the lead European association propelling the commercial deployment of carbon capture, utilization and storage technology. Their aim is to advance and accelerate the deployment of carbon capture, utilization and storage in the UK and Europe, and promote CCUS technology internationally by working with their members, governments and other organizations to ensure CCUS is developed and deployed at the necessary pace to ensure countries can meet their net-zero goals. For more information, visit their website.

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 energy systems work. For more research into CCUS and carbon prices, check out our written research.

Gore Street Capital was one of the earliest major players in the GB battery energy storage industry and now has 1.2 GW of projects in operation and construction across the globe. The company manages the Gore Street Energy Storage Fund, one of three funds in the UK focusing on battery energy storage. But how did they get to this point, and what does the future hold?

In this episode of Transmission, the founder and CEO of Gore Street Capital, Alex O’Cinneide, joins Q to discuss the history of the fund. Over the course of the conversation, they discuss:

• Gore Street Capital’s history, from inception to where it is now, alongside a look at Alex’s thesis for Gore St.
• How Gore Street Capital decide which regions to enter - from investment strategy to supply chain.
• Why bigger is not always better, and how they make design durations for the battery energy storage systems they build.
• Alex’s views on what is going on in the world of battery investment and what’s happened to battery revenues in Great Britain.
• How climate change is directly affecting how batteries are operated in locations like ERCOT and Ireland.
• Gore Street's approach to using optimizers and some of the strategies being deployed

Timestamps

00:00 Intro

01:06 Introduction to Alex and Gore Street Capital

09:29 Formation of Gore Street Capital

17:35 Strategic Moves as an Investor

28:28 What is NAV?

35:38 Fall in GB Revenues

41:34 Growing Internationally

49:59 Discussion on Optimizers

54:24 Alex's Contrarian View

About our guest

Gore Street Capital is one of the most experienced energy storage asset managers, having identified the nascent technology in 2016 as crucial to the energy transition. They manage the Gore Street Energy Storage Fund, London’s first listed energy storage fund, listed in 2018. To find out more about Gore Street Capital, head to their website.

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 energy systems work.

Battery energy storage in ERCOT is accelerating fast! At the start of 2023, total installed storage sat at 1.96 GW of operational capacity - one year later that number exceeds 4GW, and ERCOT’s predictions see capacity reaching 10GW by the end of 2024. What factors have influenced this buildout, and in what ways are we seeing batteries participate in the market?

In today’s episode, guest host Wendel Hortop is joined by ERCOT Market Lead, Brandt Vermillion. Over the course of the conversation, they discuss:

• Storage capacity in ERCOT at present, as well as what future buildout is in the pipeline.
• Peak demand in Texas and how load is expected to boom.
• Which markets storage participates in and why saturation isn’t as important in ERCOT.
• The differences in volatility between ERCOT and Great Britain and a look at some of the most recent price spike events.
• The strategies employed by some of the major players.

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 energy systems work.

Research conducted by National Grid indicates that the energy industry needs to recruit for 400,000 new and existing job roles to fulfil the UK’s net-zero goals. This encompasses everything from scientists and engineers to communications professionals and data specialists. What opportunities are opening up for young energy professionals entering the industry, or anyone joining from other sectors? Today’s episode explores stories from Saima Rasool & Sandy Kelly, both young professionals in the energy industry.

Modo Analyst, Shaniyaa Holness-McKenzie hosts this episode. Over the course of the conversation, Shaniyaa, Sandy & Saima discuss:

• Saima and Sandy’s experiences in the industry and their career journeys.

• The types of opportunities that an energy career can open up.
• How environmental, social and governance (ESG) is a vital part in the bigger picture.
• How young professionals are part of the transformation of the energy industry.
• Their hopes for the future and what it will take to get there.

Mentioned in the episode.

• Sign up to the YEP mailing list here.
• Explore TWOBILLIONSTRONG to see how you can get involved and check out their instagram.
• Building the Net Zero Energy Workforce Report from National Grid.
• Check out the YEP Forum: Guide to Jobs in Energy for more information of the range of careers available in the energy industry.
• For more on the things YEP has hosted and been involced with over 2023 - check out the YEP Forum Annual Report 2023
• POWERful Women - an initiative to create a gender-balanced, diverse and inclusive UK energy sector.
• TIDE taskforce - an initiative to improve inclusion and diversity across the energy sector.

About our guests

The Young Energy Professionals Forum is a community to promote the next generation of energy industry leaders, providing opportunities to meet, collaborate, develop and recognise success. YEP has over 2,000 members, representing over 350 organisations

TWOBILLIONSTRONG is a platform that exists to help Muslims around the world to join the conversation on climate injustice.

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.

If you are a young energy professional in search of more research or resources, our podcasts are available to watch or listen to on the Modo Energy site. 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 energy systems work.

Historically, in the US, the role of the optimizer has been performed in-house, but as the build-out of battery energy storage accelerates, the opportunity for revenue across the various markets increases and the chance for specialized services such as optimizers becomes increasingly necessary. What differences are we seeing as optimizers operate in the different markets, and how is Habitat Energy thinking about ERCOT and beyond?

In today’s episode, Mike Kirschner, US Managing Director at Habitat Energy, joins Quentin at Energy Storage US. Throughout the conversation they discuss:

• How optimizers are navigating the multiple markets across the USA.
• A look at the Qualifying scheduling entity (QSE).
• Why operators in ERCOT have historically undertaken optimisation in house, and how this mindset is changing.

• Expansion across the USA and the benefit of understanding the individual ISO’s and how habitat are approaching the markets.
• The state of co-located assets across the US. 20 mins ish
• Mike's thoughts on whether there will always be a hybrid model of AI machine learning and human touch, or will AI dominate the optimization space.

About our guest

Operating across UK, USA and Australia, Habitat Energy’s mission is to get the best possible return on your investment, whether that’s a single battery, co-located renewable generation or a whole portfolio of assets across multiple locations. Providing fully integrated AI- enabled, end-to-end battery storage and renewable energy asset optimization services to help you to unlock the full value of your asset. To find out more about what they do - head to their site.

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.

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 energy systems work.

With battery storage revenues averaging £27k per MW per year from November to February , a mixture of factors have contributed to the decline in battery revenues. What are some of the complexities surrounding the market dynamics in Great Britain, why have batteries seen such a decline, and what does the future look like?

In today’s episode Quentin is in the studio with Modo Energy’s GB market lead - Wendel Hortop, Throughout the conversation, they discuss:

• Some of the factors contributing to the decrease in revenues over the winter period and the wider impact on the system.
• A look at the potential reasons for the drop in peak demand in the UK.
• The affect of interconnectors on prices.
• Opportunities and limitations for batteries in the balancing mechanism.
• What future changes could mean for batteries.

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 energy systems work.

Recyclable, non-toxic, cost-effective, and abundantly available - zinc presents itself as a promising candidate for long-duration energy storage technology.

Through the innovative process of dissolving zinc in a liquid electrolyte, e-Zinc, is pioneering advancements in this field, offering a carbon-neutral alternative.

In today’s episode, Quentin Scrimshire is joined by Balakrishnan Iyer (Chief Commercial Officer at e-Zinc). Over the course of the conversation, they discuss:

▶ How e-Zinc's proprietary energy storage system works.

▶ What makes zinc storage unique from other technologies.

▶ The type of applications zinc is particularly suited to.

▶ Why zinc is so suitable for long-duration energy storage.

About our Guest

e-Zinc are a developer of a low-cost, flexible, and long-duration energy storage solution, harnesses the electrochemical technology of zinc. e-Zinc’s storage system retains 100% of its usable capacity throughout its lifetime. and each element has an existing recycling market or can be reused in subsequent systems. For more information on what e-Zinc do - head to their site.

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 energy systems work.

The second Review of Energy Market Arrangements or REMA, has been released - so what are the key takeaways that have arisen in this round and how could these changes impact battery energy storage?

In today’s episode, guest host Ed Porter is joined by Modo Energy’s Robyn Lucas and Wendel Hortop Over the conversation they discuss:

• The realities of zonal pricing for locational wholesale price signals.

• How the Contracts for Difference scheme could be adapted to support renewable energy growth whilst supporting system needs.

• Possible changes to settlement periods and how a more granular price signal would have a positive impact on batteries.

• Capacity Market reforms and why this is necessary for ensuring the secured capacity works in a net-zero future.

• Lithium-ion technologies role within the long-duration energy storage conversation.

• and much, much more.

Mentioned in this episode

How REMA is reinventing the markets with Ed Porter, Robyn Lucas and Alex Done

The return of REMA: five takeaways from the second consultation

Review of electricity market arrangements (REMA): second consultation

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 energy systems work.

The second Review of Energy Market Arrangements or REMA, has been released - so what are the key takeaways that have arisen in this round and how could these changes impact battery energy storage?

In today’s episode, guest host Ed Porter is joined by Modo Energy’s Robyn Lucas and Wendel Hortop Over the conversation they discuss:

• The realities of zonal pricing for locational wholesale price signals.

• How the Contracts for Difference scheme could be adapted to support renewable energy growth whilst supporting system needs.

• Possible changes to settlement periods and how a more granular price signal would have a positive impact on batteries.

• Capacity Market reforms and why this is necessary for ensuring the secured capacity works in a net-zero future.

• Lithium-ion technologies role within the long-duration energy storage conversation.

• and much, much more.

Mentioned in this episode

How REMA is reinventing the markets with Ed Porter, Robyn Lucas and Alex Done

The return of REMA: five takeaways from the second consultation

Review of electricity market arrangements (REMA): second consultation

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 energy systems work.