IHI, Inc. Announces New Peak Prediction Offering for the Ontario Market
ES/Forecaster™ Assists with Reductions in System Peak Related Ontario Global Adjustment Charge
CHICAGO, May 31, 2018 (Newswire.com) - IHI, Inc. announced today a new peak prediction product designed to assist customers in decreasing their Global Adjustment charge in Ontario. The peak prediction software, ES/Forecaster, is designed to forecast the likelihood of peak days and hours and alert customers in time to adjust their energy usage. It joins the proprietary energy storage simulation, design, and operation software suite, ESWare®, developed by the energy storage department of IHI (hereafter IHI Energy Storage).
“This new peak prediction service is effective when paired with any form of energy reduction efforts by class A customers, including leveraging an energy storage system or using industrial demand response,” Marco Ferrara, Vice President of Energy Analytics and Optimization, elaborates. “The day-ahead alerts and real-time notifications enable customers to react timely and effectively and gain the most value possible with highly targeted load reduction interventions.”
ES/Forecaster provides a day-ahead forecast updated on an hourly basis via an online portal, as well as alerts in high-risk situations. Customers will receive alerts on the upcoming 24-hour peak forecasts, including peak probability information, via email and text. These alerts will be sent out in times of elevated risk of both high peak demand on the day-ahead forecast, as well as during intraday peak hour probability increases.
IHI Energy Storage’s peak prediction software forecasts load using a robust neural network that is trained with historical data and is extensively back tested using data from 2007 to present day. With an average of 26 days per year of operation, ES/Forecaster accurately predicted 100 percent of the peak days. The hourly peak probability prediction component of the software allows two-hour battery systems to achieve 85 percent accuracy.
IHI Energy Storage is a mission-driven organization dedicated to increasing grid resiliency and improving the efficiency of renewable energy generation internationally. IHI Energy Storage is leveraging industry expertise and advanced software to develop this energy storage system.
IHI has been a leader in the industrial manufacturing sector since 1853. Originally a shipbuilding company, IHI has expanded into various spheres of industry such as energy, industry and infrastructure, and sustainability. IHI's global experience and expertise provide bankability and support to its various subsidiaries and sister companies, all working under the corporate message of “Realize your dreams,” describing IHI’s mission to help bring society to new levels of technological advancement.
About IHI Energy Storage:
IHI Energy Storage is a Chicago-based subsidiary of IHI, Inc., NY and provider of energy storage system solutions centered around the ESWare™ software suite, an end-to-end solution. As a systems integrator, IHI provides energy storage solutions for both front of the meter and behind the meter applications. IHI’s solutions include adaptive, real-time operation software, technology agnostic system designs, autonomous operation capabilities, and O&M services with support from its 160-year-old parent company, IHI Corporation, Tokyo.
For more information, please visit www.ihi-energystorage.com.
Press contact: Licole Paroly, IHI Energy Storage, firstname.lastname@example.org (617-806-6824).
IHI, Inc. is a registered trademark of IHI Corporation. All Rights Reserved. Other product or service marks mentioned herein are the trademarks of their respective owners. ©2016 IHI, Inc.
Source: IHI Energy Storage