Fluence Energy, Inc. announced that Fluence Mosaic tm, an intelligent bidding software for grid-scale energy storage and renewable (solar, wind) assets, is now available to optimize bidding of hybrid renewables and storage assets in the California Independent System Operator (CAISO) wholesale power market. This expands Mosaic's optimization capabilities for CAISO, with the software already trusted by asset owners to optimize standalone energy storage and co-located energy storage and renewables plants. Mosaic is expected to commence bidding operations for hybrid assets in CAISO totaling 75 MW /300 MWh in early 2024.

According to a CAISO Special Report on Battery Storage, battery storage capacity is growing quickly within CAISO, from 500 MW in 2020 to more than 5 GW in mid-2023. In CAISO, storage is increasingly being sited alongside renewable generation assets. These co-sited assets can be registered with CAISO as either co-located, meaning they share a point of interconnection, or as single hybrid resources.

Looking at the growth of hybrid assets, CAISO's report estimates that nearly 1 GW of storage capacity was tied to hybrid assets through 2023. Mosaic leverages machine learning to build advanced price forecasts and uses stochastic optimization models to automate the development of optimal hourly bids. This helps asset owners and traders navigate the complexities of optimizing hybrid assets in the CAISO market, allowing assets to react quickly and efficiently to grid needs and maximize revenue from market participation.