Energy Forecasting
Situation
Due to smart-meter-roll-out together with new and more flexible products in the market as well as regulations like Redispatch 2.0 the demand for energy forecasts will multiply. In order to conform to new market and framework conditions forecasting methods needs to be adopted accordingly.
Solution
The platform allows users to easily scale up energy forecasts from a few meters to hundreds of thousands to millions of meters. The user always remains in control over the forecasts as the algorithms are open source and can be customized and combined. For weather dependent variables, third-party weather data can be integrated automatically from the world's most trusted me meteorological institutes. The solution is pre-integrated with Utilihive, which means an automatic workflow from day one.
Benefits
The energy forecasting platform provides a scalable way of dealing with the increased number of energy meters as well as adapting to new market opportunities and regulations. By combining several energy forecasting algorithms and data sources, forecasting accuracy can be improved with 5-15%. All data flows are continuously monitored and users can quickly detect errors.
