By ESS news
Australia’s vast pipeline of battery energy storage projects is eyeing improved profitability after years of uncertainty, with four-hour battery energy storage systems in part of the NEM able to achieve expected internal rates of return of up to 15%.
These are the findings of Wood Mackenzie’s latest report, which focuses on modeling the profitability of new battery investments in the NEM based on revenues from the energy and frequency control and ancillary services (FCAS) markets.
The report shows a growing market for batteries in the NEM, with a massive pipeline of 60 GW of projects under development representing more than AUD80 billion ($50 billion) in potential investment.
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