New England’s Wholesale Energy Markets
Front-of-the-Meter (FTM) Opportunities with Stem
Supporting Multiple Value Streams for Customers in ISO-NE
With Stem’s extended project developer support services and Athena®’s ability to deliver multiple value streams, Stem has grown rapidly in the ISO New England (ISO-NE) market since it expanded market participation activities for FTM storage in 2020. As of mid-2021, Stem’s Athena-controlled systems comprised 52% of Massachusetts and 19% of ISO-NE’s operational continuous storage facilities active in the wholesale energy, ancillary services, and forward capacity markets. Athena continues to deliver an average of up to 30% internal rate of return (IRR) for its users.
From early site analysis to managing the bidding strategies using our AI software, Stem’s expertise in wholesale markets ensures our developer partners in ISO-NE achieve their revenue goals.
Across various projects in New England, Stem is enabling its project developer customers to co-optimize value streams – including day-ahead energy markets, real-time energy markets, forward reserve markets, real-time reserve markets, frequency regulation, forward capacity market, Clean Peak Energy Portfolio Standard program, coincident peak reduction, solar shifting incentives, solar ITC earnings, and Solar Massachusetts Renewable Target (SMART).
Why Partner with Stem?
Stem is playing a key role in helping developers get these projects to the finish line through our extensive experience in storage development efforts, our supply chain strength, analytical support around technical and economic analysis, construction and permitting support, and ultimately operating the projects in the market to achieve optimized revenues.
Our best-in-class Athena smart energy software drives success under this framework by optimizing the economic and operational trade-offs necessary for successful market participation.
Important milestones achieved by Stem during three recent customer projects in ISO-NE include:
- Athena Bidder™ automated both day-ahead and real-time energy market participation in ISO-NE along with the capacity market and frequency regulation for a project in Haverhill, Mass. Athena uses the most recent forecasts to automatically optimize the battery operations and evaluate what value stream to participate in while respecting constraints such as the point of interconnection (POI) limit, other interconnection service agreement (ISA) constraints, ramp rate restrictions, warranty guidelines, program requirements, and investment tax credit (ITC) constraints at every trading interval.
- In addition, Athena Bidder forecasted market prices and solar generation while continuously delivering market-ready price and quantity bids in the ISO-NE market for a project in Halifax, Mass.
- Separately, Stem’s first direct current-coupled systems, deployed in Leicester and New Marlborough Mass., are expected to begin generating revenue via ISO-NE as well as the state’s SMART and Clean Peak Energy Portfolio Standard programs.
Achieve your revenue goals
How Would the ITC Affect Your Project?
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Location
Stem Services for Developers
- Solution Engineering & Site Design
- ITC Compliance
- Hardware ESS
- Co-optimization of Value Streams
- System Operation
- Asset & Capacity Market Participation
Key Benefits
- Maximize Market Revenues
- Optimize Bidding Strategies
- Automate Program Management & Compliance
- Enable Optimal Design
- Support Financing & Bankability
- Enhance Storage Lifecycle Value
Featured Resources
Blog
How AI-Driven Software Capabilities Are Maximizing Asset Value in Wholesale Energy Markets
Featured Case Study:
Kearsarge Energy
Kearsarge partnered with Stem to operate a large-scale, front of meter energy storage system located on a former landfill in Haverhill, Massachusetts. The 2MW / 9MWh energy storage system, paired with 3.6MW of solar PV generation, is the largest Massachusetts project that participates in New England wholesale energy markets through Stem’s existing partnership with Kearsarge.
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