A Review of Wind Speed and Wind Power Forecasting Techniques

TL;DR

This paper reviews various techniques for forecasting wind speed and wind power, emphasizing the importance of prediction horizon classification for applications in electricity markets and grid management.

Contribution

It provides a comprehensive review of wind forecasting methods, highlighting the significance of temporal and spatial scales and classification based on prediction horizon.

Findings

Wind forecasting is crucial for electricity market operations.

Temporal and spatial scales influence forecasting models.

Classification by prediction horizon aids in application-specific forecasting.

Abstract

Forecasting a particular variable can depend upon temporal or spatial scale. Temporal variations that indicate variations with time, reflect the stochasticity present in the variable. Spatial variation usually are dominant in climatology and meteorology. Temporal scale for a variable can be modeled in terms of time-series. A time series is a successively ordered sequence of numerical data points, and can be taken on any variable changing with time. Wind speed forecasting applications lie majorly in the area of electricity market clearing, economic load dispatch and scheduling, and sometimes to provide ancillary support. Thus, a proper classification based on the prediction horizon i.e. the duration of prediction becomes important for various transmission system operators.