Key takeaways from the report include the following:
- Installed battery capacity has increased significantly in CAISO over the past few years, from about 500 MW by the end of 2020, to over 11 GW by August of 2024.
- The ~300 GW pipeline of batteries in the interconnection queue in CAISO shows that this growth does not show signs slowing, largely driven by an attractive regulatory regime.
- Future drivers of battery economics will consist of wholesale energy arbitrage, persistent ancillary service value, and volatility events.
If you have any questions or would like to learn more about our CAISO coverage, please contact Duncan Young.
