Rank correlation (Kendall tau) of price forecasts, not mean absolute error, determines intraday dispatch value for multi-market battery storage, with tau above 0.85-0.95 capturing 97-100% of perfect-foresight revenue.
URL:https://www.regelleistung-online.de/ german-energy-storage-revenue-index/bess-revenue-index-1h/
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When Forecast Accuracy Fails: Rank Correlation and Decision Quality in Multi-Market Battery Storage Optimization
Rank correlation (Kendall tau) of price forecasts, not mean absolute error, determines intraday dispatch value for multi-market battery storage, with tau above 0.85-0.95 capturing 97-100% of perfect-foresight revenue.