Fluence Energy, Inc. (NASDAQ: FLNC), a global leader in energy storage solutions, services, and optimization software, has expanded the capabilities of its Fluence Mosaic™ intelligent bidding software. The software, designed for grid-scale energy storage and renewable assets, is now primed to optimize bidding for hybrid renewables and storage assets in the California Independent System Operator (CAISO) wholesale power market.
Fluence Mosaic™, known for optimizing standalone energy storage and co-located storage with renewables, is set to initiate bidding operations for hybrid assets totaling 75 MW / 300 MWh in CAISO by early 2024.
Aric Zurek, Fluence SVP & President of Fluence Digital, expressed gratitude for customers’ trust in Fluence, stating, “This expansion of Mosaic’s capabilities within CAISO is a strong proof point of our team’s dedication to delivering on the needs of our customers. We appreciate the trust that our customers have placed in Fluence to optimize and automate bidding into CAISO for these hybrid renewables and storage assets. Mosaic is quickly becoming a trusted resource by asset owners around the world in optimizing assets for participation in some of the world’s most dynamic and complex deregulated electricity markets.”
The move responds to the burgeoning battery storage capacity in CAISO, growing from 500 MW in 2020 to over 5 GW in mid-2023, as highlighted in a CAISO Special Report. The report underscores the rise of storage co-sited with renewable generation assets, estimating nearly 1 GW of storage capacity tied to hybrid assets by 2023.
Mosaic employs advanced machine learning for price forecasts and stochastic optimization models to automate optimal hourly bids. This empowers asset owners and traders to navigate complexities, ensuring rapid and efficient reactions to grid needs while maximizing revenue from market participation.
Drew Skau, Fluence Principal Product Manager, emphasized the intricacies involved in optimizing bidding for hybrid renewables and storage assets in CAISO. He noted, “There are significant complexities involved with optimizing bidding of hybrid renewables and storage assets in CAISO. With this new capability for hybrid resources that was developed through our team’s deep CAISO market expertise, customers can now optimize their bidding with proper consideration of the forecasted renewable generation capacity and storage capabilities including current and forecasted state of charge.”
Mosaic is not only available in the CAISO market but also operates in the Electric Reliability Council of Texas (ERCOT) and the Australian National Electricity Market (NEM). The software incorporates detailed market rules and real-time data, allowing asset owners and traders to maximize participation in wholesale electricity markets globally. Fluence continues to lead in performance and bid optimization software, managing a combined portfolio of over 22.3 GW of assets contracted or under management worldwide.
