4cast expands customer relations in the Eastern European region
4cast as the leading provider of solar energy yield forecasts in Germany announces the rollout of its services throughout Europe. Sascha Bauer (CEO 4cast) plans to build on the national success and widely serve the international market. The yield forecasts, based on state-of-the-art machine learning techniques and data analysis methods, will now be targeted at the growing solar market in Poland and Eastern Europe.
New PV systems with a capacity of 8.3 GW are expected to be installed in Poland by 2024. In terms of solar capacity growth, Poland was ranked third in Europe in 2022. According to the current EU Market Outlook of the European industry association SolarPower Europe, the development is expected to continue in this way. The Polish government is supporting the expansion with subsidy projects. There is great potential for new customer business for 4cast, as precise yield forecasts offer a considerable increase in efficiency.
The advantages of solar energy yield forecasts are manifold. They offer investors, operators and developers a secure and reliable basis for planning and implementing solar energy projects. They can also help minimize the risk of investing in solar energy. On the fly, 4cast’s yield predictions provide up-to-the-minute forecasts every 15 minutes of future electricity yield – within a day for the next day and up to four days into the future.
In January 2023, 4cast made key business contacts at the Solar Energy Expo in Warsaw, acquiring both planners and operators of solar projects. „More and more industrial companies are turning to self-supply with solar and wind energy. Knowing the expected electricity yields offers a great competitive advantage here,“ says Sascha Bauer (CEO 4cast) and adds „Overall, it can be said that yield forecasts are of great importance for industrial companies operating renewable energy plants to optimize their business, reduce their energy costs and achieve their sustainable goals.“
From May 16-18, 2023, 4cast will present its yield forecasts at the GREENPOWER 2023 international exhibition in Poznan, Poland.
„Our solar yield forecasts achieve very high precision. The monthly error rates (NMAE) are 3-5% in spring and summer and as low as 1-3% in autumn and winter,“ explains Annekatrin Kirsch, meteorologist leading the development. The yield forecasts are based on a variety of different data. For example, weather data such as solar radiation, temperature, cloud cover and also wind speed are used, as well as site data such as orientation. „Shading, which is usually caused by fog or dust [e.g., air pollution, agricultural operations and traffic], also plays a role, of course, and is integrated into the database,“ Kirsch adds. Accurate forecasts provide a realistic estimate of the future yield of solar installations and allow customers to evaluate the savings potential of solar energy projects.
Digitization increases the efficiency of solar energy yield forecasts. The use of machine learning enables faster and more accurate analysis of data, leading to better forecasts and decisions.
Evaluating solar energy yield forecasts is an important part of project management. By regularly reviewing and retraining forecast models, customers can ensure that their solar projects stay on track and meet their goals.
By disseminating solar energy yield predictions, 4cast is helping to promote the growing solar market in Poland and Eastern Europe and support investments in renewable energy.
About 4Cast GmbH & Co. KG
4cast has been driving machine learning-based forecasting methods for the energy market since 2016. The systems rely on intelligent and adaptive algorithms and resulting individual forecasting models. Yield forecasts support sustainable and market-optimized trading of wind and solar energy. Using current and historical production and weather data from various sources, 4cast trains its in-house models for unprecedented precision.
Über 4Cast GmbH & Co. KG
4cast treibt seit 2016 auf Machine Learning basierende Prognosemethoden für den Energiemarkt voran. Die Systeme setzen auf intelligente und adaptive Algorithmen und daraus resultierende individuelle Prognosemodelle. Ertragsvorhersagen unterstützen den nachhaltigen und marktoptimierten Handel mit Wind- und Solarenergie. Mittels aktueller und historischer Produktions- und Wetterdaten unterschiedlicher Quellen trainiert 4cast die hauseigenen Modelle für eine bisher unerreichte Präzision.
Die Bildrechte liegen bei dem Verfasser der Mitteilung.