Press Release Summary:
Vaisala offers Energy Budget Outlook Service provides independent assessment of the impact of weather on wind portfolio performance. This service offers information on how recent anomalies in wind speed affect individual projects. This information helps wind energy operators to accurately forecast revenue.
Original Press Release:
Vaisala Launches Energy Budget Outlook Service
Wind speed anomalies across the US in May and June highlight the need for wind energy operators to be able to quickly re-calibrate their energy forecasts.
Vaisala, a global leader in environmental and industrial measurement, has launched a new Vaisala Energy Budget Outlook service to provide independent assessment of the impact of weather on wind portfolio performance. The launch comes amid increased demand from wind energy operators for tools to more accurately forecast revenue, and for the ability to adjust these forecasts based on recent wind performance.
Typically, pre-construction estimates of wind speeds and actual energy production figures are used to forecast a site or portfolio's energy production (energy budget). This new service provides a range of information on how more recent anomalies in wind speeds will affect an individual project or a wider portfolio. In doing so, it allows wind energy operators to more accurately set project budgets for the coming months.
For instance, wind anomaly maps released by Vaisala show that in May, much of the United States suffered abnormally low wind speeds. The trend continued across many regions in June, but key wind generation states such as Texas and Oklahoma saw a reversal in fortunes. These fluctuations highlight the scale of the challenge operators face in financial planning.
Cumulative under- or over-performance will have a significant impact on annual operating and financial results, may contribute to surprise shifts in project value, and potentially have damaging effects both on shareholder value and investor confidence.
While abnormal wind speeds are regularly cited as a leading cause of underperformance in wind energy operators' financial reports, isolating and accurately quantifying their effects remains difficult. The Vaisala Energy Budget Outlook service is designed to tackle this financial uncertainty, by offering wind energy operators greater flexibility and increased accuracy, allowing them to re-calibrate their energy budgets on a rolling, monthly basis.
"Wind farm operators increasingly want to understand the impact of all factors affecting performance - including the weather," said Pascal Storck, Director of Renewable Energy at Vaisala. "In the absence of reliable data on its effects on performance, many operators have been attributing any unexplained budget anomalies to weather variation. However, for the purposes of financial reporting in particular, it is clear that a greater level of detail is needed."
"Just labeling unexplained differences as weather impacts isn't helpful," said Storck. "The point is how are you going to deal with them? The Vaisala Energy Budget Outlook is an easy means of pinpointing and addressing some of the financial impact that resource fluctuations create."
You can find more information on the Vaisala Energy Budget Outlook service on Vaisala's website: https://www.vaisala.com/en/lp/energy-budget-outlook-tool
More information for media:
Marketing Manager, Energy, Vaisala
Tel.+1 617 467 1541, firstname.lastname@example.org
Weather provides the fuel for renewable energy projects and is one of the largest variables impacting production. Vaisala uses more than 80 years of weather expertise to help the global renewable energy industry develop and operate wind and solar projects better, faster and more efficiently. Our measurement, assessment, forecasting and asset management products and services leverage proven science and advanced technology to mitigate the impact of weather risks on energy generation and support profitable decision-making across the entire project life cycle, from greenfield prospecting and due diligence through operational forecasting and plant optimization. www.vaisala.com/energy twitter.com/VaisalaEnergy linkedin.com/company/vaisala-energy
Vaisala is a global leader in environmental and industrial measurement. Building on over 80 years of experience, Vaisala provides observations for a better world. We are a reliable partner for customers around the world, offering a comprehensive range of innovative observation and measurement products and services. Headquartered in Finland, Vaisala employs approximately 1,600 professionals worldwide and is listed on the Nasdaq Helsinki stock exchange.