Athena now supporting seven value streams for customers in ISO-New England
Advanced reporting and bidding software offerings launched for CAISO, ERCOT, and PJM wholesale energy markets
SAN FRANCISCO, October 05, 2021–(BUSINESS WIRE)–Stem, Inc. (“Stem” or “the Company”) (NYSE: STEM), a global leader in artificial intelligence (AI)-driven energy storage services, announced today two advanced application additions to its Athena® smart energy software, enabling its project developer customers to generate more revenue in wholesale energy markets for both front of meter (FTM) and behind the meter (BTM) storage projects. Included in the enhanced offering is Athena SupervisorTM, which provides real-time visibility into how Athena manages and monetizes energy assets, and Athena BidderTM, Stem’s proprietary market operations engine that automates asset strategies to maximize wholesale market revenues.
Stem Highlights Three Recent Milestones with Athena® in ISO-NE
Important milestones achieved by Stem during three recent customer projects in Independent System Operator New England (ISO-NE) include:
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For the first time, Athena Bidder automated both day-ahead and real-time energy market participation in ISO-NE, along with capacity supply 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 the point of interconnection (POI) limit and incentive tax credit (ITC) constraint at every trading interval.
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In addition, Athena Bidder recently began to forecast 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.
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Separately, Stem’s first direct current-coupled system, deployed earlier this year in Leicester, Mass., is expected to begin generating revenue via the state’s ISO-NE, Solar Massachusetts Renewable Target (SMART), and Clean Peak Energy Portfolio Standard programs.
Across these projects, Stem is enabling its project developer customers to co-optimize seven value streams: day-ahead markets, real-time energy markets, frequency regulation, capacity market, coincident peak reduction, solar shifting incentives, and solar ITC earnings.
With Stem’s extended project developer support services and Athena’s ability to deliver multiple value streams, Stem has grown rapidly in the 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.
Stem Expands Value in FTM Wholesale Energy Markets with Offerings for CAISO, ERCOT and PJM
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