18 December, 2023: Tigo Energy, Inc. (NASDAQ: TYGO), a leading provider of intelligent solar and energy storage solutions, provides energy consumption forecast for 7 out of 9 Israeli independent power producers, as well as three major virtual energy suppliers in the country, with Tigo Predict+ technology.
As part of the Tigo Energy Intelligence (EI) platform, Tigo Predict+ technology enables power producers to generate highly accurate and customizable energy demand forecasting models.
The forecast is done every day ahead for tomorrow and enables proper functioning of the national energy market in routine, and in particularly throughout these days of war in the region.
The Predict+ forecast is produced based on historical energy consumption and looking-forward weather forecast and is considered best-in-class (~97.5% accuracy on average).
The terror attack that broke on October 7th has affected energy consumption in Israel significantly. In the Gaza Envelope area consumption dropped four times as opposed to the week before, while consumption in other areas of the country dropped by more than 10%.
Tigo Predict+ delivery and algorithmic teams spent days and nights identifying which energy consumer clusters were affected (the Kibbutzes in the south/hotels/industry facilities, etc.) by the severe behavior change, applying human-operated “expert mode” as an immediate remedy, tagging specific patterns as “war effected” and recalibrating the models to make “machine-operated” forecast accurate again.
The Predict+ efforts brought forecast accuracy close to the pre-war status within 3 days, providing Israeli producers and the national energy market with reliable and adaptable forecasting.
With more than 300 GWh of daily forecasted consumption worldwide, Tigo Predict+ provides high-fidelity visibility into energy demand and the performance of solar and wind energy systems through precise and robust predictions, market insights, profit analysis, and regulation functions. Predict+ is part of the Tigo Energy Intelligence (EI) platform, a comprehensive digital platform designed to optimize solar installations' planning, installation, commissioning, monitoring, and maintenance phases, from individual residential systems to commercial, industrial, and utility-scale solar fleets. Tigo EI delivers the tools to decrease operations and maintenance costs, increase system performance and revenue, and improve the user experience for installers and asset owners.
About Tigo Energy
Founded in 2007, Tigo is a worldwide leader in the development and manufacture of smart hardware and software solutions that enhance safety, increase energy yield, and lower operating costs of residential, commercial, and utility-scale solar systems. Tigo combines its Flex MLPE (Module Level Power Electronics) and solar optimizer technology with intelligent, cloud-based software capabilities for advanced energy monitoring and control. Tigo MLPE products maximize performance, enable real-time energy monitoring, and provide code-required rapid shutdown at the module level. The company also develops and manufactures products such as inverters and battery storage systems for the residential solar-plus-storage market. For more information, please visit www.tigoenergy.com.