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The newest ancillary services product in Australia’s National Electricity Market (NEM) has been forecast to offer “significantly higher” revenues than other opportunities for battery storage.

The optimiser holds the keys to your battery storage asset, so it’s important to ask the right questions, says Jürgen Pfalzer of enspired.

With leading US energy storage markets on a phenomenal growth trajectory, the role of BESS has been highlighted by recent heatwaves.

As the role of coal declines and ends in Australia’s NEM, huge growth in dispatchable energy storage capacity will be needed in the mix.

Fluence’s initial public offering (IPO) raised just under a billion dollars, with all available shares of the energy storage company’s Class A common stock snapped up as they listed on the Nasdaq Global Select Market. 

Total demand for energy storage between this year and 2030 could be close to 1TWh worldwide, according to analysis from Wood Mackenzie Power & Renewables. 

Tesla’s planned launch of a retail electricity offering to existing customers within the ERCOT service area in Texas will lean heavily on battery storage as well as solar for its expertise, assets and routes to market. 

Global technology company Honeywell has launched its own battery energy storage system (BESS) Platform, which includes integrated controls, monitoring and forecasting capabilities.

Battery storage systems can deliver multiple services and provide customers and sites with backup power, but their value in doing so remains largely dependent on “highly sophisticated” software.