This photo provided by Hanwha Solutions on May 12, 2022, shows Hanwha’s domestic solar panel production facility in South Korea, run by its solar solutions unit Hanwha Q Cells.
SEOUL, March 9 (Korea Bizwire) — South Korean solar cell maker Hanwha Q Cells said Wednesday it has launched a service to predict the power output of renewable energy, making full strides into the distributed energy market.
The renewable energy power output prediction system was introduced to ensure accurate predictions of highly volatile renewable energy power output and to pay settlements based on the level of accuracy.
At present, the Korea Power Exchange is implementing this system.
Hanwha Q Cells plans to invite renewable energy power operators to participate in the prediction business and provide them with a highly accurate prediction service.
The new service will forecast the power output of the participating power plants one day earlier and submit the data to the Korea Power Exchange.
After receiving settlements based on the level of accuracy, it will distribute them to power operators.
The power operators participating in the forecast business will be able to secure additional earnings on top of the proceeds from power sales, while the Korea Power Exchange will be able to strengthen the stability of the grid system.
Predictions with a higher level of accuracy will result in higher earnings since they can contribute to the stable operation of the electrical grid.
M. H. Lee (mhlee@koreabizwire.com)
