Julian Spector of Canary Media reports on Equilibrium Power’s efforts to deploy more grid storage.
- Equilibrium Power is a company that is looking to scale the pace of battery deployment in competitive energy markets like Texas.
- The company pays battery owners for the right to bid their energy storage to the grid, essentially assuming risk, which gives battery developers the financial freedom to build more storage capacity.
- This solution will lower the cost of capital for energy storage and could lead to more widespread use of the technology in the future.
“In Equilibrium’s first commercial deal, the startup pays Jupiter Power a monthly fee for the next seven years to operate a 100-megawatt battery system in West Texas. Equilibrium currently dispatches that battery for optimal profit in the wholesale markets of Texas grid operator ERCOT. Of course, actually making money in Texas’ rough-and-tumble merchant power markets is never guaranteed. To increase its odds of success, Equilibrium built an AI-enhanced digital trading platform to orchestrate its bids based on analysis of the myriad variables influencing the markets.”
Read the full article here.