benchmark | ˈbɛn(t)ʃmɑːk |
verb [with object]
evaluate (something) by comparison with a standard: we benchmark our performance against external criteria.
One of the most valuable aspects of the Modo Asset Success Platform is our Benchmarking section. This enables you to evaluate battery energy storage asset performance against various Modo market Benchmarks - to give you comparative insights and points of reference in an ever-evolving market.
So, when we decided to make improvements to our Benchmarking features, we didn’t take them lightly. We gathered a huge amount of feedback from a diverse range of users - you lot! - and aligned your needs with our own vision for battery energy storage Benchmarking. As a result, we’ve made some bold, carefully thought-out improvements to our offering. And we think you’re going to love them!
How has the Benchmark changed?
Firstly, we’ve made our Benchmarking tools more visible to more users. Our Monthly Revenue Benchmark, which shows two years of historical market performance, is now available for free!
Our more detailed Battery Revenue Breakdown, which shows individual revenue streams on a daily granularity, will now be available on our Starter tier. Want to understand market-wide performance in detail, but don’t need to know what every asset is doing? This is the Benchmarking tool for you!
What about the Leaderboard?
Finally, we’ve made big improvements to the Leaderboard. This is available to Plus and Enterprise users - those of you who require the deepest insights and specific, asset-level data. Our new Leaderboard graph makes it quicker - and even easier - to analyze the revenue stack for top-performing battery assets. You can now spot differences in strategies at a glance!
You also told us that you want to compare asset performance more easily. So, you’ll now find three new performance indicators - the percentage of revenues that came from merchant markets; the percentage of an asset’s nameplate capacity (MW) that was entered into frequency response services; estimated cycles per day - visualized on the Leaderboard table itself, allowing rapid comparison of assets.
Finally, you can now find our Asset Explorer tool more easily. It’s accessible directly from the Benchmarking side navigation, and you can use the dropdown menu to select any asset. And all the data behind the Asset Explorer is now available to download too!
