The Advanced Research Projects Agency-Energy (ARPA-E) has invested a significant amount of funding in novel, electrochemical-based electrical energy storage technologies for stationary applications. However, widespread adoption of new storage technologies has been hindered by a lack of proven economic benefit, performance, and long term reliability.  This presentation will focus on the economic modeling of the value of grid energy storage conducted in the Cycling Hardware to Analyze and Ready Grid-Scale Electricity Storage (CHARGES) program, including the revenue that can be captured under both existing and potential future utility rate structures and markets for applications such as day ahead, real time, demand charge reduction, ancillary services, and others.  In addition to the revenue that can be captured by participation in single applications, the revenue available by stacking applications will also be assessed.  The CHARGES program has also sought to translate the operation of a battery to maximize revenue into duty cycles that researchers can run on the electrochemical technologies they are developing, to move beyond the typical constant-current cycling to duty cycles linked to economic valuation in an actual grid context.  At the end of this presentation, battery developers should have a clear understanding of value-driven performance requirements that allow for evaluation of their technology early in the development cycle.