- Amperon has launched a new asset-level renewable generation forecasting service that provides 15 days of hourly forecast updates and 2 days of 5-minute forecast updates for solar power plants, helping renewable energy producers and utilities to more accurately manage their generating assets.
- Amperon has introduced a new metric, Capacity Normalised Mean Absolute Error (cnMAE), to more accurately assess the accuracy of renewable generation forecasts, thereby improving forecast reliability and transparency across the industry.
OUR TAKE
Amperon has released an advanced forecasting service for renewable energy generation designed to provide accurate hourly and minute-by-minute forecasts for solar power plants to help utilities and renewable energy producers manage their generation assets more effectively. By introducing a new cnMAE metric, Amperon has improved the accuracy and reliability of its forecasts, bringing a more transparent and unbiased assessment methodology to the renewable energy industry as a whole.
-Rae Li, BTW reporter
What happened
Amperon has launched a new asset-level renewable generation forecasting service which focuses on providing accurate hourly and minute-by-minute forecasts for solar power plants. These forecasting services allow renewable energy producers, utilities, and other power buyers and sellers to view solar power forecasts at the individual site or aggregated level for portfolio management. The accuracy of each hourly forecast is scored and calculated based on the rated capacity of the asset, providing customers with greater transparency and traceability. Sean Kelly, CEO and co-founder of Amperon, says that accurate solar power forecasts are critical to helping companies understand how their generating assets will perform in the coming days and weeks, helping to minimise inaccurate forecasts and resulting financial losses.
Amperon’s forecasting service provides 15 days of solar forecasts updated hourly, as well as 2 days of solar forecasts every 5 minutes. These more accurate solar forecasts help reduce the risk of financial losses in the real-time market due to actual generation not matching forecasted generation. Customers can also gain insight into their carbon footprint up to three days in advance, calculating the amount of carbon emissions reduced as a result of renewable generation. Elliott Chorn, Senior Vice President of Products at Amperon, emphasises that accurate wind and solar forecasts are critical to keeping energy prices low and the grid green. Amperon has introduced cnMAE which adjusts forecast errors based on the capacity of the system, ensuring that the accuracy of the assessment is not biased by system sise or observations during the estimation period.
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Why it’s important
Amperon’s asset-level renewable generation forecasting Service is important because it provides solar power plants with unprecedentedly accurate forecasting capabilities. This service is significant for utilities and renewable energy producers in that it helps them manage their generation assets more efficiently, reduce market risk, and improve economic efficiency. By providing 15-day forecasts updated hourly and 2-day forecasts updated every 5 minutes, Amperon’s solution enables organisations to better plan and adapt their operational strategies to changing energy demand and price fluctuations.
Amperon’s introduction of the cnMAE metric provides the renewable energy industry to assess forecast accuracy. This new metric takes into account the capacity of the system, thus avoiding the limitations of traditional metrics when assessing a single solar project. This not only improves forecast accuracy, but also enhances transparency and fairness across the industry, helping to advance the renewable energy sector while ensuring the reliable and economic operation of the grid.
