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Vestas and Utopus Insights to pilot energy forecasting solutions for renewable power plants in Australia-The 20th China (Guangzhou ) Int’l Casting product Exhibition
4/12/2019 - casting expo-Die-casting expo-foundry expo |
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With the increasing amount of renewable energy in the system, grid operators must address the challenge of balancing supply and demand from intermittent energy generation. One way of meeting this challenge is to use advanced forecasting tools to provide predictability in renewable energy generation in order to keep the grid stable. In support of Vestas’ efforts to provide forward-looking renewable energy solutions, the Australian Renewable Energy Agency (ARENA) announced today that Vestas was awarded funding to develop a new short-term wind energy forecasting solution for Australia. The funding is part of ARENA’s Advancing Renewables Program.
The solution will allow ARENA to more accurately forecast energy generation from wind power plants, reduce wind generators’ dispatch uncertainty, and improve system stability by better anticipating supply from renewable sources through accurate weather forecasting. Such forecasting solutions can also benefit power plant operators’ bottom line by reducing financial penalties for inaccurate forecasts and increase revenue opportunities through making smarter, data-driven decisions about selling energy into spot markets in countries like Australia. Being able to better predict energy generation is a valuable tool in assessing the minute-to-minute value of energy and thus how to achieve maximum revenue for energy when selling into spot markets.
From both the system and power plant view, this forecasting solution is both an important stepping stone to a world where wind and solar energy become the dominant sources of electricity, and a part of Vestas’ efforts to provide a broad array of renewable energy solutions that provide benefits to energy systems as well as to customers.
The solution will be developed by Vestas together with its wholly-owned energy analytics solution provider, Utopus Insights. The solution will improve upon the Australian Wind Energy Forecasting System’s (AWEFS) 5-minute forecast and will be deployed and piloted at Infigen Energy’s Lake Bonney 2 and 3 Wind Farms, two co-located wind farms in South Australia
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