In the first half of 2023, the Texas battery energy storage market, managed by ERCOT, showcased remarkable growth. June stood out as an exceptionally profitable month, with battery systems earning 42% more than the combined total of the preceding five months. This surge was attributed to skyrocketing energy prices, peaking at $5,000/MWh on June 20th.

During this period, the introduction of ERCOT's Contingency Reserve Service (ECRS) added an exciting dimension. ECRS contributed 15% to battery energy storage revenues in H1, despite operating for just 21 days. Responsive Reserve remained a major revenue source, accounting for 87% of total battery earnings.

Timing played a critical role, with 89% of battery revenues originating from real-time market trades, particularly during the peak price events of June 20th.

Significant disparities in revenue were observed among individual battery systems. Some systems consistently outperformed, earning double the average revenue of all ERCOT systems in the first five months of 2023. Key Capture Energy's Endurance Park Storage system excelled in June, earning over $44,000/MW, almost matching the six-month average.

Chisholm Grid, a 100 MW/125 MWh system owned by Astral Electricity, emerged as the top earner in H1 2023, with earnings of $68,573/MW, surpassing the average by 52%.

In conclusion, the ERCOT battery energy storage market in H1 2023 was marked by exceptional opportunities and varying revenue outcomes among systems. With ongoing heatwaves causing continued price spikes in the second half of the year, the prospects for investors and operators in this market remain highly promising. Stay tuned for more updates on battery energy storage trends by subscribing to our channel.

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