PRODUCTS
Algorithmic power price predictions Kinect Energy Group is touting new advanced machine learning capabilities that predict electric spot prices for regional power markets using real-time weather tracking. The technology uses the Amazon SageMaker DeepAR time-series forecasting model and incorporates historical pricing and weather data to drive the machine learning models. The technology has been designed to improve price
IRIS eyeballs higher returns from wind assets Kaiserwetter Energy Asset Management has launched new technology to provide data on operational wind farms. The so-called ‘IRIS – analytics machine’ is a spin-off from its Aristoteles platform, the company said. Kaiserwetter says IRIS’s algorithms are the basis
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Kinect’s technology incorporates historical pricing and weather data
for detailed analysis of operational data of renewable energy facilities for a given point in time. The data intelligence provides quick insight into the status of assets, said the firm. Smart data analytics and the subsequent implementation of machine learning allow for practice-oriented predictive analysis and are the key elements for a swift analysis of renewable energy facilities, added Kaiserwetter. The tool includes is an assessment of possible
predictions and assist with increased trading volumes for forward pricing contracts. Richard Delisser, vice-president of Global Infrastructure at World Fuel Services, Kinect Energy Group’s parent company, said: “The volatility of the energy market is at some of the highest levels it’s ever been. Affected by factors such as the increased adoption of renewable energy, geopolitical tension, macro-economics
performance increase (potential gain). This number is one of the key analysis results and is regarded as a ‘magic number’ for stakeholders along the entire investment cycle, according to the company: It shows wind farm operators the potential that exists from a technical perspective for improving their investment return. Kaiserwetter said the tool is suitable for wind energy facilities and entire wind parks. In addition to due diligence reports, Kaiserwetter also provides status reports and potential analyses, the latter, it said, being the smallest and most inexpensive analysis report option available from IRIS. Status reports have been created for asset holders, financiers and ratings agencies of wind farms that seek comprehensive status information regarding performance and technical conditions for a wind park at any given point in time. If these reports are created on a regular basis, said Kaiserwetter, they can help clients get a neutral and data-based perspective on the wind farm in question.
and more unpredictable weather – forward pricing can be difficult to predict. “Working with Amazon Web Services, we have created something that will transform the way energy spot prices are predicted. By tracking the weather more closely, and better understanding that relationship to market pricing, we will be able to support our customers in making more informed choices about their energy purchasing.”
Arm flexes muscle with analytics tool Arm has launched a workspace analytics tool, Space Analytics, to give property managers of coworking spaces, commercial offices and hotels a view of the utilisation and availability of offices and hospitality spaces. Dogpatch Labs, an Irish startup hub and home to 80 startups, has deployed this solution to optimise coworking space and better understand movements of its members Property managers can ‘leverage the physical data insights of IoT to design energy efficient and monetisable spaces, as well as increase employee safety, productivity and engagement’, states the firm’s literature. Space Analytics gathers and analyses data from offthe-shelf IoT devices (such as smart lighting, sensors, locks, IP cameras, badge readers) to predict availability of space. Arm claims the tool’s machine learning capabilities hone insights on space and resource usage, all of which work toward driving greater efficiencies and maximising revenue, according to the company.
theenergyst.com