Forecasting photovoltaic production with neural networks and weather features

Stéphane Goutte, Klemens Klotzner, Hoang-Viet Le and Hans-Jörg von Mettenheim

Energy Economics, 2024, vol. 139, issue C

Abstract: In this paper, we address the refinement of solar energy forecasting within a 2-day window by integrating weather forecast data and strategically employing entity embedding, with a specific focus on the Multilayer Perceptron (MLP) algorithm. Through the analysis of two years of hourly solar energy production data from 16 power plants in Northern Italy (2020–2021), our research underscores the substantial impact of weather variables on solar energy production. Notably, we explore the augmentation of forecasting models by incorporating entity embedding, with a particular emphasis on embedding techniques for both general weather descriptors and individual power plants. By highlighting the nuanced integration of entity embedding within the MLP algorithm, our study reveals a significant enhancement in forecasting accuracy compared to popular machine learning algorithms like XGBoost and LGBM, showcasing the potential of this approach for more precise solar energy forecasts.

Keywords: Solar energy; Time series forecasting; Machine learning; Neural networks; Entity embedding (search for similar items in EconPapers)
Date: 2024
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Working Paper: Forecasting photovoltaic production with neural networks and weather features (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:139:y:2024:i:c:s0140988324005929

DOI: 10.1016/j.eneco.2024.107884

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