enercast: acceleration of US market entry by German Accelerator
- Predictive analytics technology for power predictions of renewable energies convinces jury
- High market potential in the USA thanks to massive expansion of renewable energies
- “Key technology” for the energy grids of the future
enercast, innovative provider of prediction services for renewable energies and predictive analytics for the optimisation of business processes, has been chosen as participant of the German Accelerator programme from more than 80 applicants. The programme promoted by the German Federal Ministry for Economic Affairs and Energy identifies companies with trendsetting technology that have the potential to develop into globally leading companies in their sector. enercast will spend the second quarter of 2017 in Silicon Valley specifically preparing for market entry in the USA with the support of experienced market experts. The high profile jury evaluated the artificial intelligence (AI) based technology from the Kassel company as a key technology for the development of smart grids. Thus enercast is among the vanguard digitalizing the power generation industry.
According to informations from the US Energy Information Administration (EIA), 190 billion kWh of electricity was generated from wind energy in the USA in 2015; more than double the amount generated in Germany. The USA has also developed into a boom market in the area of photovoltaics. Market researchers from GTM Research are expecting an increase of 14 GW this year alone. The market for major solar power plants in particular registered an exponential growth of up to 50% compared to last year.
“With a very high market growth in the area of renewable energies, the USA is one of our top target markets, with a market potential we want to tap into,” explains Thomas Landgraf, CEO of enercast GmbH. “As a participant of the German Accelerator programme we are able to prepare our market entry in the USA as part of our international expansion with great concentration and with the support of local market experts. This will considerably accelerate our market entry.”
The multi-award-winning technology by enercast, which combines predictive analytics with artificial intelligence based on big data for the optimisation of predictions, has already been successfully used in Europe for several years. The self-learning algorithms continuously analyse historical and current weather and performance data from various sources, thereby ensuring a high level of prediction precision.
Pinpoint predictions of amounts of energy to be expected from the wind and sun are a prerequisite for the load management of the power grids and smart grids of the future.