System and method for load and source forecasting for increasing electrical grid component longevity

A power system comprising:

• a renewable energy source;
• one or more switching components coupled between the renewable energy source and a power grid, the one or more switching components configured to selectively control and condition a flow of power from the renewable energy source to the power grid;
• and
• a prediction and optimization system configured to optimize power grid operations and enhance a life of the switching components through meteorological parameter forecasting, the prediction and optimization system comprising a processor configured to execute:
• a collecting module for collecting meteorological information of a region of operation of the power grid, along with historical meteorological data of the region;
• an executing engine for executing a plurality of prediction models using the meteorological information and the historical meteorological data;
• a forecasting module for forecasting a meteorological parameter of the region that causes the renewable energy source to generate power, the meteorological parameter being forecast by selectively combining outputs of at least some of the plurality of executed prediction models;
• a computing and optimization module for computing optimal switching operations of the switching components based on the forecasted meteorological parameter;
• and
• a controlling module for controlling the switching components of the power grid based on the computed optimal switching operations.

A system for comprising:

• a computer readable storage medium having computer readable code stored thereon that, when executed by a processor, causes the processor to:
• collect meteorological information of a region of operation of a power grid, along with historical meteorological data of the region;
• execute an Integrated Volt/VAR Control (IVVC) algorithm using the meteorological information and the historical meteorological data, the IVVC algorithm executing a plurality of prediction models;
• forecast a meteorological parameter of the region that causes a renewable power source to generate power based on the IVVC algorithm;
• compute optimal switching operations in one or more voltage ampere reactive (VAR) compensation devices based on the forecasted meteorological parameter;
• and
• control switching in the one or more VAR compensation devices based on the computed optimal switching operations.

A method of optimizing power grid operations and enhancing the life of switching components in a power grid that includes a renewable energy source, the renewable energy source comprising one or more photovoltaic (PV) array, and the method performed by a prediction and optimization system, with the method comprising:

• collecting current meteorological information of a region of operation of the power grid during operation of the power grid, along with historical meteorological data of the region, the historical meteorological data comprising historical data of observed solar irradiance of the region and extra-terrestrial solar irradiance of the region;
• executing a plurality of prediction models using at least one of the current meteorological information, the historical data of observed solar irradiance, and the extra-terrestrial solar irradiance;
• forecasting a meteorological parameter of the region by selectively combining outputs of at least some of the plurality of executed prediction models, the forecasted meteorological parameter comprising solar irradiance;
• computing optimal switching operations of the switching components based on the forecasted meteorological parameter;
• and
• controlling the switching components of the power grid based on the computed optimal switching operations.