Renewable energy forecasts and their impact on electricity prices (C02)

• Subject Area: Statistics and Econometrics ; Electrical Energy Systems, Power Management, Power Electronics, Electrical Machines and Drives
• Term: since 2024
• Project identifier: Deutsche Forschungsgemeinschaft (DFG) - Project number 520388526

Renewable energy forecasts and their impact on electricity prices aims for more reliable probabilistic wind and solar power forecasts to improve supply security by renewable energies. The impact of renewable energy forecasts on electricity prices will be analyzed, taking cross-country effects in interconnected and coupled electricity markets in Europe into account. In the long run, methodologies for probabilistic deep learning structures and online learning algorithms will be put forward to forecast electric load and (battery) storage.

• DFG Programme: CRC/Transregios
• Subproject of: TRR 391: Spatio-temporal Statistics for the Transition of Energy and Transport
• Applicant Institution: Technische Universität Dortmund
• Project Heads: Professorin Dr. Antonia Arsova, since 7/2024; Professor Dr. Florian Ziel, since 7/2024