Resumen
The value associated with an improved variable renewable energy (VRE) forecast has been quantified in this research. The value of improved VRE forecasts can increase with increasing VRE penetration levels as well as the range of this value becoming wider. This value also saturates with high levels of improved VRE forecasts as there is relatively lower impact of improving VRE forecasts further. This paper discusses how the improvement of VRE forecasting could impact the South African power system and representative United States power system jurisdictions.