BESS price falls have pushed many marginal projects in merchant markets into a rate of return needed for investment, US developer Available Power told Energy-Storage.news amidst the sale process for its own 100MW/200MWh ERCOT project.

The issue of ensuring reliability of BESS resources in the Texas electricity market has not gone away for grid operator ERCOT, despite the state regulator’s recent quashing of proposed minimum state-of-charge (SOC) rules.

Battery storage developers and operators discussed the challenges and opportunities in the US market, on the first day of Solar Media’s Energy Storage Summit (ESS) USA 2024.

Gridstor, a developer of standalone battery energy storage system (BESS) assets, has acquired a 450MW/900MWh project in Texas, US, the company’s first in the booming ERCOT market.

A roundup of US battery storage project financing news from this week, with deals struck by SMT Energy and UBS, Plus Power, as well as CleanCapital and Available Power, covering over 1GW of projects.

Multinational utility and IPP RWE has completed three co-located battery energy storage system (BESS) projects in the US, totalling 190MW/360MWh, with another 2GWh-plus under construction.

Blackstone and Foss & Company have completed transferability investment tax credit (ITC) deals for BESS projects in California and Texas, a market which has grown “faster than anyone expected” according to tax credit ecosystem Crux.

This week’s Friday Briefing is largely concerned with the UK’s current period of low revenues for battery storage and how the market can move forward.

The Public Utility Commission of Texas has ordered the state’s grid operator ERCOT to rescind state-of-charge (SOC) rules requiring batteries to hold additional capacity to provide ancillary services.

Battery storage developer and operator Spearmint Energy has brought its first major project online in the ERCOT, Texas market.