On 29th April, the official kick-off meeting for the POWERCAST project funded by the Federal Ministry for Climate Action, Environment, Energy, Mobility, Innovation & Technology took place in Hagenberg with the participation of colleagues Johannes Reichl, Andrea Kollmann, Katharina Rusch and Rudolf Kapeller.
POWERCAST aims to develop new methods for load forecasting that take into account the dynamic nature of consumption and production structures in the energy system. By utilising adaptive artificial intelligence (AI) methods, the developed forecasting models can be adapted to dynamic changes in the electricity consumption patterns of producers and consumers within a grid area and transferred to new, similar scenarios.
▶ In UseCase #1, the aim is to improve short-term forecasts that contribute to (i) the economic efficiency of electricity grids and (ii) the optimisation of compliance with safety standards by grid operators.
▶ In UseCase #2, an early warning system for negative electricity loads will be developed, which should pave the way for a faster expansion of PV and thus contribute to achieving the Austrian renewable energy targets.
We are looking forward to a great collaboration and are excited about the results we will achieve over the next 3 years! Project partners: RISC Software GmbH, Austrian Power Grid AG and HAKOM Time Series and LINZ NETZ GmbH
