Structuring Competitive RFPs for Storage Bid Optimization
Specifically, we address the topics that are most relevant to the design of competitive bidding performance demonstrations using backcast and live trial techniques.
Grid Charging: “Grid charging” refers to the charging of the energy storage system from energy on the power grid (as opposed to a paired energy generation resource such as wind or solar).
Bidding for energy storage tenders is extremely lucrative for companies of all sizes. Tendering authorities and private companies release thousands of contracts worth millions for procurement of energy storage. Global Tenders stands out as the largest platform dedicated to tenders and government contracts.
These contracts allocate the risks of project development, construction, and performance between the parties and include the price that will be paid by the utility for the resource or the energy storage services that are to be provided.
These contracts are particularly prevalent in Texas, which is an energy-only market (i.e., there is not a separate market for the sale of capacity). As a result, many energy storage resources will enter into hedges that will provide them with some fixed revenue streams to facilitate a project financing.
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