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Power companies are increasingly employing batteries for transferring electricity from low-price periods to high-price periods, a tactic referred to as market speculation, as per the recently released detailed information.
By the conclusion of 2023, power suppliers in the United States disclosed operating 575 batteries with a collective power of 15,814 megawatts (MW). Based on the disclosed plans by the suppliers, we anticipate that the battery capacity in the U.S. will exceed triple, introducing an additional 35,953 MW by the termination of 2028.
The initial data release from our EIA-860, Annual Electric Generator Report, outlines fresh comprehensive data on the applications of battery storage, containing particulars on usage scenarios, generator setup, and other specifics regarding the energy capacity of forthcoming batteries.
Suppliers now stipulate that market speculation is the principal application for 10,487 MW of battery capacity, marking it as the most frequently declared primary function. Within market speculation, suppliers replenish batteries through buying electricity during cost-effective periods and vend that electricity when prices surge.
Suppliers can also employ batteries to elevate grid dependability by rendering services that bolster electricity transmission, recognized as auxiliary services. A prevalent form of auxiliary service is frequency regulation, identified as the most recurring deployment for battery capacity at least once.
The majority of batteries serve multiple functions and have been recognized in previous data distributions, although we have recently initiated inquiring suppliers to designate the primary intention of the battery. The premature release of the EIA-860 data signifies the first occasion we have shared this element of data.
Main contributors: Alex Mey, Glenn McGrath. Published article from Today in Energy.
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