NEM Sub-5MW Solar and Storage - May 2026

May fleet revenue came in up 13% on April, and NSW (Essential Energy)'s 4-hour battery site led at A$54k for the month.

  • Storage sites out-earned standalone solar 1.8× across the fleet this month (A$110k → A$192k).
  • Just three days (18, 21 and 27 May) carried 25% of NSW (Essential Energy)'s monthly revenue, check out the daily view for the details.
  • In the half-hourly data, SA (SAPN) spot prices ran from A$30 to A$231/MWh on 29 May.

‍About the model

These benchmarks are produced in Gridcog by simulating a fleet of identical reference projects against real market outcomes. Each monthly edition re-runs the fleet over the trailing 12 months of actual half-hourly prices.

The reference project. Each site pairs a 6.0 MWdc / 5.0 MWac fixed-tilt ground-mount solar array with a 5 MW grid connection. Solar yield is derived from actual measured irradiance and weather at each site, time-aligned with the market prices. Solar output is curtailed whenever exporting is uneconomic; since the model earns no LGC or PPA revenue, in practice that means all negative-price intervals. The storage scenarios add an AC-coupled 5 MW battery in 2-hour (10 MWh) and 4-hour (20 MWh) configurations: 85% round-trip efficiency, 90% usable depth of discharge, capped at two cycles per day, with grid charging permitted.

Grid and network. Import and export are both limited to 5 MW at an HV connection. In the storage scenarios each site carries its distributor's actual published network tariff: Energex CAC Dynamic Flex Storage (QLD), Essential Energy BHND4LS HV Storage/Hybrid (NSW), SAPN HVBG HV Business Generation (SA), and Powercor GT2 Generator Storage (VIC). Network charges are netted off the reported revenues. The solar-only scenario is treated as an export-only connection with no network charges. Marginal and distribution loss factors are applied based on regional averages, reflecting embedded generation in the distribution network.

Markets and dispatch. Sites earn from their regional NEM energy spot market and all eight contingency FCAS markets, co-optimised; regulation FCAS is excluded. Prices and weather are actuals from the same period, settled per half-hour. Dispatch is decided against a synthetic, imperfect forecast derived from the settled data rather than perfect foresight, with revenues then settled at actual market prices.

What's not included. Revenues are merchant only: no PPAs, hedges, or capacity contracts. Figures are gross market revenue less network charges, before capex, opex, and financing.

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NEM Sub-5MW Hybrid