An anonymous reader quotes a report from Electrek: Tesla’s giant Powerpack battery in Australia has been in operation for about 6 months now and we are just starting to discover the magnitude of its impact on the local energy market. A new report now shows that it reduced the cost of the grid service that it performs by 90% and it has already taken a majority share of the market. It is so efficient that it reportedly should have made around $1 million in just a few days in January, but Tesla complained last month that they are not being paid correctly because the system doesn’t account for how fast Tesla’s Powerpacks start discharging their power into the grid.
The system is basically a victim of its own efficiency, which the Australian Energy Market Operator confirmed is much more rapid, accurate and valuable than a conventional steam turbine in a report published last month. Now McKinsey and Co partner Godart van Gendt presented new data at the Australian Energy Week conference in Melbourne this week and claimed that Tesla’s battery has now taken over 55% of the frequency control and ancillary services (FCAS) services and reduced cost by 90%. “In the first four months of operations of the Hornsdale Power Reserve (the official name of the Tesla big battery, owned and operated by Neoen), the frequency ancillary services prices went down by 90 percent, so that’s 9-0 per cent,” said Gendt via Reneweconomy. “And the 100MW battery has achieved over 55 percent of the FCAS revenues in South Australia. So it’s 2 percent of the capacity in South Australia achieving 55 percent of the revenues in South Australia.”
Read more of this story at Slashdot.