Al is improving renewable energy forecasts

With a 40 percent capacity and 22-23 per cent of generation coming from renewable energy (RE), integrating RE is crucial for reaching 500 gigawatts by 2030 and achieving net-zero emissions by 2070.

- Jogendra Behera Head - Regulatory Affairs & Policy Advocacy Apraava Energy

The renewable energy industry is the largest use case for Al. But forecasting generation and adding the demand side to integrate RE is a challenge. India's 40 percent capacity and 22 to 23 percent of its generation come from RE. But we have to reach 500 gigawatts by 2030 and net zero by 2070; all of this would require integrating RE.

Long-term and short-term forecasting

Long-term and short-term forecasting are important, particularly from the perspective of generators. Long-term forecasting is used for planning projects, making investment commitments, and ensuring the bankability of the project. Short-term forecasting is used for revenue and minimising DSM penalties. Forecasting is also equally important for different market segments in the power exchange, where it's not possible to revise the schedule, and we can maximise the revenue.