Modo Energy has signalled that 16.8GW of battery energy storage systems (BESS) will connect to Australia’s National Electricity Market (NEM) by the end of 2027.

Data from UK consultancy Cornwall Insight shows that profits for battery storage units in the country will rebound by 2026 after “an extended period of underperformance”.

Wholesale trading revenues for UK battery storage systems grew 45% month-on-month in October, accounting for half of revenue growth, Modo Energy said.

UK-based energy industry data platform company Modo Energy’s monthly Revenue Benchmark has found that battery energy storage revenues in the country increased by 53% between June and July.