Earning in ERCOT: How to optimize grid-scale battery banks in Texas

Charles W. Thurston | Source: Solar Builder Magazine | Posted 08/05/2024

Keyword Tags: ERCOT BESS Optimization Gridmatic BESS AI in Energy Management Grid-Scale Batteries Real-Time Energy Market

Optimizing ERCOT BESS revenue | Getting the most out of a grid-scale battery energy storage system (BESS) involves a sophisticated platform including artificial intelligence, algorithms, energy demand forecasting, weather forecasting, and historic data from thousands of substations around the country serving Independent System Operators (ISOs). Using this proprietary combination of tools, Gridmatic reckons they could boost ERCOT BESS revenue performance by nearly one-third for the entire grid-scale battery fleet in the Texas ERCOT grid, according to David Miller, VP of business development for the Palo Alto, Calif.-based company, in an interview with SB. The Electric Reliability Council of Texas (ERCOT) serves about 90% of the load in that state.

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Gridmatic, a company based in Palo Alto, California, is utilizing sophisticated tools such as artificial intelligence and algorithms to optimize revenue performance for grid-scale battery energy storage systems (BESS) in the Electric Reliability Council of Texas (ERCOT) grid. Through their proprietary platform, Gridmatic aims to increase the BESS revenue by nearly one-third for the entire battery fleet serving Independent System Operators (ISOs), based on historical data and extensive forecasting.

In their ERCOT Storage Report for 2023, Gridmatic highlighted the benefits of AI forecasting in boosting BESS revenue by 32% across the ERCOT fleet, while cautioning against operational risks such as failure to provide power (FTP) due to conservative or aggressive strategies. The report also noted the trend towards 2-hour battery banks, particularly in response to the ERCOT Contingency Reserve Service market, providing insights into maximizing revenue opportunities in the evolving energy landscape.

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Source Link: https://solarbuildermag.com/batteries/earning-in-ercot-how-to-optimize-grid-scale-battery-banks-in-texas/

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Earning in ERCOT: How to optimize grid-scale battery banks in Texas

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