Aurora Energy Research Launches Battery Storage Asset Valuation Software “Chronos” in Japan

Aurora Energy Research K.K. (Chuo-ku; “Aurora”), a provider of power market analysis services, today announced the launch of the Japan edition of Chronos, its software for evaluating the economics of grid-scale battery storage assets. Chronos is already widely used in the United States, Europe, and Australia by battery storage operators, project developers, power and infrastructure companies, and financial institutions. The Japan edition has now been optimized for the Japanese market. Japan’s battery storage market is entering a period of rapid growth, driven by the expansion of renewable energy deployment. At the same time, project commercialization requires analysis of multiple interacting revenue streams, including wholesale electricity markets, balancing markets, and capacity markets, as well as increasing renewable curtailment and regulatory changes. As a result, simple revenue projections alone are no longer sufficient to evaluate project viability. Chronos addresses these challenges by providing precise and rapid investment and financing analysis for stakeholders involved in battery storage projects, supporting day-to-day business decision-making. In addition to standalone grid-scale battery storage, Chronos also supports co-located renewable energy projects such as solar-plus-storage. Use cases include investment decision support during project development, portfolio-wide valuation and optimization, and support for financing assessments and due diligence. Yamato Kawamata, Research Lead at Aurora Energy Research K.K., said: “Japan’s battery storage business is entering a larger growth phase as revenue streams across multiple markets begin to emerge. At the same time, these revenue opportunities interact with one another in increasingly complex ways, making investment decisions more difficult. Chronos combines Aurora’s power market modeling expertise with practical usability, enabling fast and accurate decision-making based on multiple assumptions and scenarios. In overseas markets, Chronos is trusted as a bankable tool and has been referenced in project finance evaluations. By providing an analytical environment optimized for Japan, we aim to support the sustainable development of Japan’s battery storage business.” Founded in Oxford in 2013, Aurora Energy Research is a company specializing in power market analysis, with operations across more than 18 locations worldwide. Through quantitative analysis using its power market models, Aurora supports decision-making by corporations, financial institutions, and other stakeholders. In Japan, Aurora began offering services in 2023. Its offerings include quarterly reports covering long-term power market outlooks, renewable energy and battery storage economics, and renewable curtailment forecasts, as well as advisory services for individual projects.