Method and system for predicting solar energy production
First Claim
1. A method for hedging energy sales or purchases in a a short-term future or day-ahead market against shortfalls in a spot market, comprising:
- determining on a computer processor an historical accuracy of a regional net energy forecasting methodology for a facility or facilities which have solar energy generating systems in a geographical region;
estimating a difference between the maximum cost of energy in a future spot market and an energy trader'"'"'s price of energy for each hour during a current day-ahead market;
determining a risk factor associated with energy sales and purchases from the determined historical performance and the estimated difference between the maximum cost of energy and the energy trader'"'"'s price of energy; and
purchasing options to buy or sell energy based on the determined risk.
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Accused Products
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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Citations
2 Claims
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1. A method for hedging energy sales or purchases in a a short-term future or day-ahead market against shortfalls in a spot market, comprising:
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determining on a computer processor an historical accuracy of a regional net energy forecasting methodology for a facility or facilities which have solar energy generating systems in a geographical region; estimating a difference between the maximum cost of energy in a future spot market and an energy trader'"'"'s price of energy for each hour during a current day-ahead market; determining a risk factor associated with energy sales and purchases from the determined historical performance and the estimated difference between the maximum cost of energy and the energy trader'"'"'s price of energy; and purchasing options to buy or sell energy based on the determined risk.
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2. A method for hedging energy sales or purchases in a short-term future or day-ahead market, the method comprising:
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determining on a computer processor an historical accuracy of a regional net energy forecasting methodology for a facility or facilities which have solar energy generating systems in a geographical region; 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 determined 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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Specification