Rocketing energy prices and growing energy security concerns have grown the interest in solar and wind production immensely. ROI calculations of these investments rely on a robust assessment of production outcomes and historical energy price data without any realistic outlook to future.
Production of renewable energy relies on uncontrollable weather conditions. Incorrect production estimates cause loss of energy selling opportunities or create fines for producers delivering less than estimated. General weather models need a local touch to be more valid for each producer, for example, when one has to decide about some storage capabilities to be added to the wind or solar park.
Long-term reliable electricity price prediction is unrealistic. Having higher predictability in a four-day forecast is an ambitious ML task. Experienced location data experts from Positium and data scientists from STACC joined their teams. We aim to bring value to energy market participants planning to harvest the flexibility market with more precise bids.
Need such a validated data platform to facilitate your and customers’ investment plans? STACC and Positium are ready to cooperate with you!