Energy market modelling initiative | The IEA

energy market modelling initiative

After a successful 3-month discovery activity, we are pleased to announce that we have been awarded a 12-month follow-on project from UKRI (UK Research & Innovation) to further develop our innovative economic dispatch modeling technology.

The project – BELIEVE – is one of 10 successful Round 2 SBRI (Small Business Research Initiative) projects exploring new commercial products and services for green finance.

The project will focus primarily on the UK energy market and allow us to further assess the impact of long-term weather and climate patterns on energy production and demand. The goals are to provide enhanced insight into expected volatility in future electricity prices and to help understand and mitigate volatility-related risks, in markets that will be increasingly exposed to weather-related variability – key determinants for the financial sector when considering new investments in the renewable energy sector.

The BELIEVE project is led by the Institute for Environmental Analytics in collaboration with a range of leading industry collaborators including Copenhagen Infrastructure Partners, Danske Commodities, Ørsted, and The Crown Estate.

energy market modelling innitiative partners

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Upcoming webinar: The impact of variable weather on price distribution in an evolving GB electricity system

The GB energy market is going through fundamental change. Ever higher proportions of renewables and storage, increasing flexibility and uncertain weather patterns all affect price formation and the financial performance of solar, wind and storage assets.

Helping SMEs boost growth through data and software innovation

Over the spring and summer, we’ve been busy providing data analysis and software support to several SMEs to help turbo-charge their growth and product development ambitions.

Modelling the economics of long-duration energy storage

Our energy modelling team recently worked with a South African energy company to support the analysis for their novel gravity storage system.

Integrating solar, wind and BESS onto a large research campus

Our energy analysts recently worked with a large organisation to understand the potential for integrating solar, wind and BESS into their existing energy infrastructure.

Analysing solar and wind generation for energy trading

Our data scientists are working with an innovative energy business in South Africa to explore the potential for optimising their trading activity.

Providing meteorological data for novel wind turbine analysis

Working with clean tech start-up Ilosta to provide bespoke meteorological data and weather consultancy in support of the testing of their new wind turbine blade analysis software, ‘Crack Map’.

Developing an IaC solution for new remote monitoring platform

Software engineers at the IEA recently provided technical consultancy to UK-based Dyna-mo Instruments to develop an Infrastructure as Code (IaC) solution to deploy their new SaaS-based remote monitoring software into AWS.

Oman workshop on results of rainfall modelling project

IEA weather and climate experts - Dr. Maria Noguer and Dr. Ben Lloyd-Hughes - were recently in Muscat, Oman to present the results of a statistical analysis project examining the outcome of Oman’s national rainfall enhancement programme between 2019-2022 at a workshop organised…

Preparing geospatial data to support climate action in the UK

The IEA has been awarded a contract from the National Centre for Earth Observation to enable the effective translation of climate data

Partnering with UK Power Networks on new Ofgem-SIF Innovation Project

The Institute for Environmental Analytics has been awarded an initial 2-month Discovery Phase project to investigate the potential for developing a weather and climate monitoring platform for UK Power Networks, one of the UK’s leading DNOs (Distribution Network Operators).

The IEA publish white paper exploring the role of weather data in Africa's energy transition

The Institute for Environmental Analytics is pleased to announce the release of our white paper which looks at how weather variability can affect solar and wind production.

Providing software engineering support for new Sustainability platform

Supporting UK-based start-up InForecast Limited.

Analysing cloud seeding programme in Oman

We are pleased to have been awarded a contract from the Ministry of Agriculture, Fisheries Wealth and Water Resources, Sultanate of Oman to undertake a statistical analysis of the results of the rainfall enhancement programme between 2019-2022. This innovative national initiative…

Assessing climate impacts on horticulture

Modelling the impact of climate change on crops

Innovate UK bid win for energy market modelling

Modelling the impact of weather and climate change in future energy markets.

Assessing weather impacts on electricity networks

The IEA team has recently completed Phase 1 of a project to assess the impact of weather and climate on electricity networks.

Suriname pilots EnergyMetric to further energy transition

The IEA is delighted to have signed an MOU with the Suriname Energy Chamber for a pilot initiative to demonstrate the potential for EnergyMetric to inform renewable energy transition options in the country.

EnergyMetric launches in Africa

The IEA was in Cape Town from 7-9 June to launch EnergyMetric at Enlit Africa.

New funding announced at CREF 2022

We’re proud to announce the roll out of EnergyMetric across six small island states, thanks to further funding from the UK Space Agency.

Energy workshop for Birkbeck students

During March, the IEA will be delivering a special workshop on energy modelling to students on the Energy and Climate Change course at Birkbeck College, London.

WeatherAsset exhibiting at Fruit Logistica

We will be showcasing our suite of weather modelling software, data and consultancy services at Fruit Logistica 2022 in Berlin between 5th-7th April.

EnergyMetric at Solar Finance and Investment Europe

Solar Media Events will host the 9th edition of Solar Finance and Investment Europe in London on 8-9 March 2022.

Launch of EnergyMetric

After 5 years of R&D effort funded by the UK Space Agency’s International Partnership Programme (IPP), we are pleased to announce the commercial launch of EnergyMetric.