Renewable sources of energy display distinct characteristics, like the fluctuation of energy production and a decentralized regional output. Thus, they differ decisively from conventional sources of energy. Integrating the increasing share of solar energy and wind power into the overall energy production is a challenging task for all partners involved. The forecast of the amount of produced energy is a crucial aspect, as this is the basic information needed for regulating the balance between energy supply and demand.
Having this in mind, the aim of the project REEF is to evaluate the existing multitude of forecasting methods. Furthermore, REEF is striving for the development of optimization methods. The project focusses on identifying an optimum aggregation point for forecasts by using hierarchical clustering algorithms including the use of appropriate similarity measures for energy time series and making maximum use of additional context information. Therefore, a suitable benchmarking method is designed and developed for these forecasts. This framework will give technical support when deciding for an ideal model or a combination of models and will simplify decision-making. By the integration of necessary data pre- and post-processing measures this process will be mainly automatized and can be executed by a wide range of users.
The web-version of the ECAST Demo World framework can be accessed here. You can either register for a new account or use the public demo user (login/pwd demo/demo) to explore the world of online forecasting.