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Renewable generation forecast studies – Review and good practice guidance

Carsten Croonenbroeck and Georg Stadtmann

Renewable and Sustainable Energy Reviews, 2019, vol. 108, issue C, 312-322

Abstract: Propelled by the actual demand from the renewable energy industry, the progress of literature on quantitative forecasting models during the past years is extensive. Research provides a vast output of papers on wind speed, wind power, solar irradiance and solar power forecasting models, accompanied by models for energy load and price forecasting for short-term (e.g. for the intraday trading schemes available at many market places) to medium-term (e.g. for day-ahead trading) usage. While the models themselves are, mostly, rather sophisticated, the statistical evaluation of the results sometimes leaves headroom for improvement. Unfortunately, the latter may occasionally result in the rejection of papers.

Keywords: Forecasting; Electricity prices; Wind and solar; Point forecasts; Probabilistic forecasts; Sharpness; Reliability (search for similar items in EconPapers)
JEL-codes: C52 C53 Q41 Q47 (search for similar items in EconPapers)
Date: 2019
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