Predictive Modeling of Renewable Energy Purchase Prices Using Deep Learning Based on Polish Power Grid Data for Small Hybrid PV Microinstallations

Abstract

In the quest for sustainable energy solutions, predicting electricity prices for renewable energy sources plays a pivotal role in efficient resource allocation and decision making. This article presents a novel approach to forecasting electricity prices for renewable energy sources using deep learning models, leveraging historical data from the power system operator (PSE). The proposed methodology encompasses data collection, preprocessing, feature engineering, model selection, training, and evaluation. By harnessing the power of recurrent neural networks (RNNs) and other advanced deep learning architectures, the model captures intricate temporal relationships, weather patterns, and demand fluctuations that impact renewable energy prices. The study demonstrates the applicability of this approach through empirical analysis, showcasing its potential to enhance energy market predictions and aid in the transition to more sustainable energy systems. The outcomes underscore the importance of accurate renewable energy price predictions in fostering informed decision making and facilitating the integration of renewable sources into the energy landscape. As governments worldwide prioritize renewable energy adoption, this research contributes to the arsenal of tools driving the evolution towards a cleaner and more resilient energy future.