As 2024 draws to a close, we wanted to take a moment to reflect on an incredible year of growth and progress — both here at Tyba and across the broader renewable energy landscape. Our mission at Tyba is simple: help companies develop and operate more profitable energy storage projects.
Together, we’ve made strides toward that goal, and wanted to share a few milestones that we are particularly excited about.
Product Progress
The Tyba team has been working to support energy companies throughout the full project lifecycle – from efficiently getting assets online, to maximizing revenue during day-to-day operations, to planning your next projects, we ensure you get the most out of your assets without the time-intensive manual effort.
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Honed our go-live playbook | Start generating revenue, faster
In 2024, we helped companies bring over 1GWh of energy storage online. We fine-tuned our process to help streamline the experience and expedite the path to revenue generation.
- Templatized integration and pre-launch testing processes to ensure hardware and market systems interoperability.
- Enhanced our shadow bidding environment so teams can test a variety of strategies and hone in on their default approach prior to commencing operations.
- Facilitated energy-only operations to generate revenue for customers while they await approval to participate in ancillary services.
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Strategy customization & control | Your battery, your rules
Batteries give us control over energy market participation – we give you control over your battery. This year, we continued to evolve our offering to ensure you’re able to operate your battery as you see fit.
- Customization: Our optimizer is tuned for your project, your node, and your risk tolerance to ensure we are maximizing your outcomes.
- Strategic oversight for your team: Override proposed day-ahead bid plans, adjust allowable cycle count on a day that may see multiple peaks, update real-time dispatch, and more with the click of a button – all while maintaining the benefits of automation.
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Improved modeling velocity & efficiency | Design your next project with ease
Discovering the optimal commercial and technical design for your next standalone or hybrid storage project can be time and data-intensive. Our project simulation platform streamlines this analysis. This year, we introduced new features to help you:
- Leave no stone unturned: Simulate 100s/1000s of project designs, seamlessly incorporating the nuances of your project, state incentive programs, and potential offtake agreements.
- Prioritize high impact projects: Stack rank projects and design options according to a range of custom data inputs with our seamless design comparison feature.
- Establish a defensible investment case: Justify your next investment to the business, investors or lenders
Market & Regulatory Updates
Storage assets operate within dynamic market conditions and complex regulatory environments. We strive to simplify these markets and policies so companies are able to operate confidently and effectively.
This year brought significant market changes that influenced energy storage operations:
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ERCOT
NPRRs 1149 and 1186 combined with lower AS prices, largely driven by higher penetration of storage, led operators to take more energy-centric trading approaches.
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CAISO
Introduced stricter Ancillary Service State of Charge (ASSOC) requirements and adjusted Bid Cost Recovery (BCR) payments.
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NYISO
Progressed toward a 6GW by 2030 storage target, with updates to VDER and ISC frameworks.
The regulatory environment continues to evolve
as ISOs work through the best ways for storage to participate. A few initiatives we are following closely include:
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Co-optimization of energy and ancillary services in real-time to meet energy demand most effectively slated for implementation in 2025.
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LSEs under the CPUC’s jurisdiction will be moving to a new Resource Adequacy (RA) framework that includes demonstrating sufficient energy generation to cover charging requirements from storage resources.
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The state is proposing an incentive program for storage assets to help achieve the 2GW / 8GWh by 2030 goal.
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The first round of procurements under the ISC program is slated for 2025.
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Improvements to price formation methodologies that account for the value of lost load are being reviewed by FERC. This should lead to greater value for operating reserves and real-time energy.
A shifting market
In the past six weeks, we’ve seen a handful of significant price spikes in ERCOT, including prices at or near the market cap on November 10th, November 17th, and December 15th. While they may seem like anomalies, we predict this is the start of a trend that will continue into the new year, especially during times when thermal outages are high. In this new environment, agility will be more critical than ever: asset management approaches need to adapt quickly to shifting market conditions to capitalize on these short-lived, high-value opportunities.
What lies ahead
In addition to the market changes listed above, we expect to see new opportunities and challenges emerge for storage. Stay tuned for more details on our 2025 predictions in January.
We are grateful for the strides that were made this year, and look forward to what 2025 has in store. Thank you for an incredible year – we couldn’t have done it without our partners, customers, and network.
