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description Publicationkeyboard_double_arrow_right Article , Preprint 2025Embargo end date: 01 Jan 2022Publisher:Institute of Electrical and Electronics Engineers (IEEE) Authors:Christoph Bergmeir;
Frits de Nijs;Christoph Bergmeir
Christoph Bergmeir in OpenAIREEvgenii Genov;
Abishek Sriramulu; +24 AuthorsEvgenii Genov
Evgenii Genov in OpenAIREChristoph Bergmeir;
Frits de Nijs;Christoph Bergmeir
Christoph Bergmeir in OpenAIREEvgenii Genov;
Abishek Sriramulu; Mahdi Abolghasemi;Evgenii Genov
Evgenii Genov in OpenAIRERichard Bean;
Richard Bean
Richard Bean in OpenAIREJohn Betts;
Quang Bui;John Betts
John Betts in OpenAIRENam Trong Dinh;
Nam Trong Dinh
Nam Trong Dinh in OpenAIRENils Einecke;
Rasul Esmaeilbeigi; Scott Ferraro; Priya Galketiya;Nils Einecke
Nils Einecke in OpenAIRERobert Glasgow;
Robert Glasgow
Robert Glasgow in OpenAIRERakshitha Godahewa;
Yanfei Kang;Rakshitha Godahewa
Rakshitha Godahewa in OpenAIRESteffen Limmer;
Steffen Limmer
Steffen Limmer in OpenAIRELuis Magdalena;
Pablo Montero-Manso;Luis Magdalena
Luis Magdalena in OpenAIREDaniel Peralta;
Yogesh Pipada Sunil Kumar; Alejandro Rosales-Pérez;Daniel Peralta
Daniel Peralta in OpenAIREJulian Ruddick;
Julian Ruddick
Julian Ruddick in OpenAIREAkylas Stratigakos;
Akylas Stratigakos
Akylas Stratigakos in OpenAIREPeter Stuckey;
Guido Tack;Peter Stuckey
Peter Stuckey in OpenAIREIsaac Triguero;
Isaac Triguero
Isaac Triguero in OpenAIRERui Yuan;
Rui Yuan
Rui Yuan in OpenAIREPredict+Optimize frameworks integrate forecasting and optimization to address real-world challenges such as renewable energy scheduling, where variability and uncertainty are critical factors. This paper benchmarks solutions from the IEEE-CIS Technical Challenge on Predict+Optimize for Renewable Energy Scheduling, focusing on forecasting renewable production and demand and optimizing energy cost. The competition attracted 49 participants in total. The top-ranked method employed stochastic optimization using LightGBM ensembles, and achieved at least a 2% reduction in energy costs compared to deterministic approaches, demonstrating that the most accurate point forecast does not necessarily guarantee the best performance in downstream optimization. The published data and problem setting establish a benchmark for further research into integrated forecasting-optimization methods for energy systems, highlighting the importance of considering forecast uncertainty in optimization models to achieve cost-effective and reliable energy management. The novelty of this work lies in its comprehensive evaluation of Predict+Optimize methodologies applied to a real-world renewable energy scheduling problem, providing insights into the scalability, generalizability, and effectiveness of the proposed solutions. Potential applications extend beyond energy systems to any domain requiring integrated forecasting and optimization, such as supply chain management, transportation planning, and financial portfolio optimization.
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more_vert add ClaimPlease grant OpenAIRE to access and update your ORCID works.This Research product is the result of merged Research products in OpenAIRE.
You have already added works in your ORCID record related to the merged Research product.This Research product is the result of merged Research products in OpenAIRE.
You have already added works in your ORCID record related to the merged Research product.All Research productsarrow_drop_down <script type="text/javascript"> <!-- document.write('<div id="oa_widget"></div>'); document.write('<script type="text/javascript" src="https://beta.openaire.eu/index.php?option=com_openaire&view=widget&format=raw&projectId=10.1109/access.2025.3555393&type=result"></script>'); --> </script>
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