Method and system for predicting solar energy production
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United States of America Patent
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Sep 3, 2013
Grant Date -
Jan 10, 2013
app pub date -
Sep 14, 2012
filing date -
Aug 20, 2003
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Abstract
A method for hedging energy sales or purchases in a short-term future or day-ahead market includes determining an historical performance of a regional net energy forecasting methodology for a facility or facilities which have solar energy generating systems in a geographical region. The method further includes estimating a difference between the maximum cost of energy in a spot market and an energy trader's minimum price of energy for each hour bid in the short-term future or day-ahead market, determining a risk factor associated with energy sales or purchases from the historical performance and the estimated difference, and purchasing or selling options to buy energy at the previous day's day-ahead market price based on the determined risk factor.
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