Solar Energy Forecasting for Devices in IoT Smart Grid

Increased energy demands and dependencies on fossil fuels is an important issue in the power sector. Renewable energy sources have a big usage trend in electricity generation. The renewable resources exhibit higher penetration in the energy portfolios of many scenarios, which put emphasis on the need for precise forecasting of variable renewable resources like- solar, wind, and tidal- at different temporal scales to achieve balanced power utilisation in the smart grid. Solar forecasting is an enabling technology for integration of solar resources into the power grid for efficient delivery of power and its consumptions. The existing power system operations need changes with integration of renewable resources. Smart grids allow the integration of smart technologies with the existing power generation system infrastructure. Energy management and demand profile shaping are important concerns in smart grid systems. The solar generation reveals high variability with higher penetration levels in the smart grid poses problems associated with the reservation cost, generation and distribution and reliability of the grid. Hence, there is a need for forecast systems with high precision across multiple time horizons for regulation, dispatching, scheduling the power distribution. The key feature of the smart grid is the ability to utilize the statistics to make optimized operational decisions. With this feature, significant improvement can be made in the smart grid to forecast the behaviour of renewable energy through both short-term and long-term assessments.