Improving the forecast accuracy of wind power by leveraging multiple hierarchical structure

arXiv:2308.03472v2 Announce Type: replace
Abstract: Renewable energy generation is of utmost importance for global decarbonization. Forecasting renewable energies, particularly wind energy, is challenging due to the inherent uncertainty in wind energy generation, which depends on weather conditions. Recent advances in hierarchical forecasting through reconciliation have demonstrated a significant increase in the quality of wind energy forecasts for short-term periods. We leverage the cross-sectional and temporal hierarchical structure of turbines in wind farms and build cross-temporal hierarchies to further investigate how …

abstract accuracy advances arxiv cs.lg energy forecast forecasting global hierarchical importance improving multiple power renewable through type uncertainty weather wind