Accurate Forecast Techniques Essential For Renewable Energy Growth, Say Experts At SBLF 2016

NEW DELHI - Nov. 25, 2016 - PRLog -- Accurate forecast and scheduling techniques are critical for sustainable growth of renewable energy market in India, industry leaders and experts concluded at a panel discussion during the Sustainable Business Leadership Forum 2016 in New Delhi today. The panel discussion was jointly conducted by cKinetics and IndiaPowerTrading.info, a data & analytics portal of Climate Connect Limited servicing the next generation of power markets in India.

The topic for panel discussion – Can renewable energy companies become power companies of the future? – resonated with all panelists as well as attendees who were present as the session in large numbers. Some of the leading companies and stakeholders in the renewable energy sector were represented at the panel discussion. Representatives from ReNew Power Ventures Limited, ACME Solar, BSES Rajdhani Power Limited, Continuum Wind Energy, Statkraft, Indian Energy Exchange, Shakti Foundation, and the Central Electricity Regulatory Commission (CERC) were part of the panel. The panel discussion was moderated by cKinetics Managing Director Upendra Bhatt.

Several panelists agreed that while major renewable energy technologies – wind and solar – have achieved grid parity in terms of pricing and tariff, true grid parity, in terms of dispatch and procurement by discoms, remains elusive. Renewable energy remains a big unknown for most of the stakeholders, due to slow pace of reforms, intermittent nature of power supply from renewable energy sources, among other factors.

One of the IPPs stated that forecast and scheduling regulations are still in their nascent stage and are not uniform across states which makes it difficult for compliance. However, representatives of all IPPs present at the panel discussion committed to adhering to all enforced and impending regulations. They expressed confidence that Indian RE IPPs can adopt whatever practices are being followed in developed markets.

Accurate forecasting and scheduling practices shall enable utilities and grid operators to shed inhibitions related to procurement of electricity from renewable energy projects. One of the panelists emphasised on the need for forecasting techniques based on Artificial Intelligence (AI). These are self-learning techniques that generate forecast reports based on a plethora of factors selected automatically based on their likely affect on power generation.

Saurabh Shrivastava, Head-Power Markets at IndiaPowerTrading.info was also one of the panelists and concurred with the opinion regarding forecast and scheduling. While expressing support for AI-based forecast techniques, Shrivastava said, "We are already seeing high success rate of energy forecasting based on Artificial Intelligence and Machine Learning. IndiaPowerTrading.info has successfully implemented its forecasting and automated scheduling technology for two utility-scale solar power projects in Gujarat and Madhya Pradesh."

At the end of the panel discussion, Shrivastva congratulated Bhatt for conducting a stimulating discussion on the role of renewable energy projects in India's power sector.

———————————————————

About IndiaPowerTrading.info

IndiaPowerTrading.info (IPT) is an online information & analytics platform, to facilitate the Indian Power Market stakeholders (buyers, sellers, IPPs, traders and other information seekers) with latest real time market insights. IPT also provides integrated and comprehensive forecasting and scheduling services for renewable energy projects. We believe 'Information is Power' and the right information at right time synergizes to possess the desired business edge and improved profitability. IndiaPowerTrading.info is powered by Climate Connect Limited.