As part of the Korea Renewable Energy 3020 Plan, the South Korean government has set a goal of producing 20% of the country’s energy from renewable sources by 2030. The amount of power generated by solar, wind, and other renewable sources can be difficult to predict, however, and introducing these sources can destabilize the grid.
Virtual power plants (VPPs) address this challenge by combining independent distributed energy sources such as solar power generation facilities and energy storage systems into a single generation profile. VGEN has developed energy management system (EMS) software for a VPP that is already being used by a Korean power generation company. Built entirely in MATLAB®, the software uses deep learning to produce renewable energy forecasts and applies advanced optimizations to maximize profits in energy markets.
“MATLAB enabled our small group to rapidly develop innovative software from our initial concept all the way to production,” says Seungyup Baek, CEO at VGEN. “We would not have been successful without MATLAB and the state-of-the-art deep learning and optimization capabilities it provides.”