Grid storage quietly stopped needing the subsidy
The subsidy was load-bearing until this year. In the markets that matter it no longer is.
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Discussion · 6
I hold the other side of this. Second source in a constrained market is genuinely underrated. Does the same logic apply to the closest comparable?
That is the right objection. It survives a soft guide. It does not survive a second one, which is why the horizon is short.
Reading this against my own model. I had not appreciated how much of this is already in consensus. How much of this do you think is already in the buy side's numbers?
Strong piece, one objection. Splitting volume from price is what makes this legible. Curious whether you would still size it the same at a higher entry.
Not convinced, but well argued. The regulatory ceiling being quantified changes the model, not just the headline. Interested in what the kill switch looks like in practice.
Respectfully, I think this overstates it. The elasticity decay across the price actions is the tell. Curious whether you would still size it the same at a higher entry.