NASA’s Rose Project Designed to Improve Earth Public Utility Forecasting
“Ventyx’s NOSTRADAMUS is a highly flexible and scalable forecasting system,” said Deane S. Price, general manager of Ventyx’s Energy Group. “The system can integrate data from a wide variety of sources. Empowered with more and finer-resolution data points, the system can help our clients improve their financial performance by reducing expensive and labor-intensive processes and decreasing imbalance and penalty costs to minimize demand capacity charges and reduce the use of costly peaking resources.”
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The company Ventyx is considered the world’s largest private software provider to utility industries, recently being accepted for an advanced NASA project, a project designed to improve its short term “load forecasting” for energy utilities, according to Yahoo’s May 6, 2008 article “Ventyx Software to Leverage NASA Earth Science Data for Improved Load Forecasting”.
The NASA project “ROSES” will apply its high-resolution weather data to the energy usage, allowing its energy usage software to improved energy and utility performance. The awarding project is entitled “NASA Products to Enhance Energy Utility Load Forecasting” is a NASA Research Opportunities in Space and Earth Science grant, with the short-term forecasting system by Ventyx known as NOSTRADAMUS—which uses the latest advancements in neural network technology.
Overall, NOSTRADAMUS software systems learn the relationships between any number of data input, which automatically produces and disseminate accurate demand and price forecasts, according to this article. With the addition of the NASA’s ROSE program, these accuracies can be improved tremendously by a much finer resolution data input and a model output that is found only through NASA—air temperature, relative humidity, wind speed, ocean temperatures, offshore winds, and snow pack levels.
In order to bid and win the NASA project, the company Ventyx had partnered with Battelle, a nonprofit independent research and development organization that is considered one of the largest in the world. According to the Battelle manager of NASA programs, Christopher Pestak said, “”Load forecasting systems such as Ventyx’s are powerful decision support tools for energy utilities, but we can enhance their performance even further by starting with better data. And, the better the forecast, the less unnecessary and wasted generation. As a result, this work should result in cost savings to residential, commercial and industrial energy users while improving long-term energy conservation.”
This entry was posted on Wednesday, May 7th, 2008 at 4:53 am and is filed under Public Relations, Space Agency News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
