Posters

Abstract

Forecasting variable renewable energy (RES) production, and namely wind power, is a quite mature technology. The majority of actors (grid operators, aggregators, traders...) use today operational forecasting tools and services to optimize their decisions related to wind power integration in power systems and electricity markets. The horizons of interest are a few minutes to a few days ahead. Despite that maturity, RES forecasting is a very active field of research internationally due to the high level of uncertainty (mainly from weather conditions), the increasing number of emerging use cases in power systems that involve development of new forecasting products and the need to continously improve accuracy especially in systems with high RES penetration. In fact, wind power prediction errors may reach very high levels (i.e. above 50%) especially in situations of weather fronts, ramps etc, and these may have a potentially high impact to the grid and result in financial losses in the markets. The H2020 Smart4RES project was initiated in 2019 to develop next generation forecasting solutions with increased forecasting performance and also innovative approaches to leverage the value (technical or economic) of forecasts by considering the whole model chain from weather forecasting to end-use applications. The project which will be completed in 2023 has followed some disruptive directions of research. In this Conference we will present the final results both regarding forecasting and also the optimal use of forecasts in a broad range of applications that range from grid management to storage/RES hybrid plant management and trading to multiple markets.