Chapters authored
Time Series and Renewable Energy Forecasting
Renewable energy generation has been constantly increasing during recent years. Wind and solar have had the most significant growths among all renewable resources. Wind and solar resources are highly intermittent and dependent on meteorological parameters and climatic conditions. The power output of wind turbines is subject to various meteorological parameters, such as wind speed, wind direction, air temperature, relative humidity, etc., among which the wind speed is the most direct and influential factor in wind power generation. Solar photovoltaic (PV) power is a function of solar radiation. Wind speed and solar radiation time series data exhibit unique features which complicate their prediction. This makes wind and solar power forecasting challenging. Accurate wind and solar forecasting enhances the value of renewable energy by improving the reliability and economic feasibility of these resources. It also supports integrating solar and wind power into electric grids by reducing the integration and operation costs associated with these intermittent generation sources. This chapter provides an overview of the time series methods that can be used for more accurate wind and solar forecasting.
Part of the book: Time Series Analysis and Applications