Today renewable energy generation is increasing at a rapid pace. This will gradually lead to the creation of a decentralized electricity grid which will pose greater challenges of grid stabilization. Stabilizing such a decentralized grid requires integrating the ability to forecast grid parameters and respond appropriately within the grid.

This project has developed a forecasting technology called km-technology (km-tech) that uses golden search interpolation techniques, Fibonacci functions, robust regression algorithms and novel advanced neural networks to give accurate forecast of electricity price, effective load, wind energy and grid frequency.

Km-technology can be applied with any forecasting tool to improve the accuracy of predictions/ to improve the performance of the existing forecasting tools, which uses sophisticated proprietary mathematical functions to read the system behavior. Accurate, near real-time price and load predictions may eventually lead to shifting of transmission peaks, better outage management and distribution system.

The project received appreciation under the ‘Technological Edge’ category at the Gandhian Young Technology Awards 2012.

V S K Murthy Balijepalli, IIT Bombay