In
Germany, the Fukushima disaster resulted in an immediate shut down of
some nuclear power plants marking the start of a considerable
transformation towards renewable energy production. As both wind and
solar power are highly stochastic, new and advanced methods are needed
e.g.· to forecasts tomorrow’s net energy demand (for grid management),
· to operate real options such as power plants or storages,
· to forecast tomorrow’s weather for deriving the renewables’ production,
· to analyze prices for better risk management and trading.
Working Members: Abhinav Das and Prof. Dr. Stephan Schlüter
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