Forecasting Cost Saving Through Solar System Installation

The benefits of installing solar panels for electricity generation are not widely understood. Thus, this study aims to raise awareness by analyzing solar energy generation and simulating potential cost savings based on solar irradiance data. A Linear Regression model was developed by identifying the...

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Published in:2023 IEEE International Conference on Automatic Control and Intelligent Systems, I2CACIS 2023 - Proceedings
Main Author: Razak S.A.B.; Zaini N.; Latip M.F.A.
Format: Conference paper
Language:English
Published: Institute of Electrical and Electronics Engineers Inc. 2023
Online Access:https://www.scopus.com/inward/record.uri?eid=2-s2.0-85168326990&doi=10.1109%2fI2CACIS57635.2023.10193393&partnerID=40&md5=c526ed67a28f9c9c8a55da5151d77b12
id 2-s2.0-85168326990
spelling 2-s2.0-85168326990
Razak S.A.B.; Zaini N.; Latip M.F.A.
Forecasting Cost Saving Through Solar System Installation
2023
2023 IEEE International Conference on Automatic Control and Intelligent Systems, I2CACIS 2023 - Proceedings


10.1109/I2CACIS57635.2023.10193393
https://www.scopus.com/inward/record.uri?eid=2-s2.0-85168326990&doi=10.1109%2fI2CACIS57635.2023.10193393&partnerID=40&md5=c526ed67a28f9c9c8a55da5151d77b12
The benefits of installing solar panels for electricity generation are not widely understood. Thus, this study aims to raise awareness by analyzing solar energy generation and simulating potential cost savings based on solar irradiance data. A Linear Regression model was developed by identifying the correlation between actual solar energy generation and solar irradiance data at a specific location. The study employs MSE, RMSE, and R-squared metrics to evaluate prediction accuracy. The developed model has a low MSE and RMSE value of 5.9 and 2.43, respectively, and a high R-squared value of 0.75, indicating high prediction accuracy. This model can predict solar power generation at specific locations based on solar irradiance data, enabling the estimation of cost savings from reduced electricity bills and maximum power generated by the solar panels. © 2023 IEEE.
Institute of Electrical and Electronics Engineers Inc.

English
Conference paper

author Razak S.A.B.; Zaini N.; Latip M.F.A.
spellingShingle Razak S.A.B.; Zaini N.; Latip M.F.A.
Forecasting Cost Saving Through Solar System Installation
author_facet Razak S.A.B.; Zaini N.; Latip M.F.A.
author_sort Razak S.A.B.; Zaini N.; Latip M.F.A.
title Forecasting Cost Saving Through Solar System Installation
title_short Forecasting Cost Saving Through Solar System Installation
title_full Forecasting Cost Saving Through Solar System Installation
title_fullStr Forecasting Cost Saving Through Solar System Installation
title_full_unstemmed Forecasting Cost Saving Through Solar System Installation
title_sort Forecasting Cost Saving Through Solar System Installation
publishDate 2023
container_title 2023 IEEE International Conference on Automatic Control and Intelligent Systems, I2CACIS 2023 - Proceedings
container_volume
container_issue
doi_str_mv 10.1109/I2CACIS57635.2023.10193393
url https://www.scopus.com/inward/record.uri?eid=2-s2.0-85168326990&doi=10.1109%2fI2CACIS57635.2023.10193393&partnerID=40&md5=c526ed67a28f9c9c8a55da5151d77b12
description The benefits of installing solar panels for electricity generation are not widely understood. Thus, this study aims to raise awareness by analyzing solar energy generation and simulating potential cost savings based on solar irradiance data. A Linear Regression model was developed by identifying the correlation between actual solar energy generation and solar irradiance data at a specific location. The study employs MSE, RMSE, and R-squared metrics to evaluate prediction accuracy. The developed model has a low MSE and RMSE value of 5.9 and 2.43, respectively, and a high R-squared value of 0.75, indicating high prediction accuracy. This model can predict solar power generation at specific locations based on solar irradiance data, enabling the estimation of cost savings from reduced electricity bills and maximum power generated by the solar panels. © 2023 IEEE.
publisher Institute of Electrical and Electronics Engineers Inc.
issn
language English
format Conference paper
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record_format scopus
collection Scopus
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