Impacts of Accurate Renewable Power Forecasting on Optimum Operation of Power System

Abstract The accuracy of renewable power forecasts is of vital importance in providing an optimum operation in power system. Therefore, different advanced methods have been presented for the purpose of increasing the forecasting accuracies. In this chapter of the book, these forecasting methods are gathered into three main groups, namely, combined methods, spatiotemporal methods and probabilistic methods, and the model structure and specification of each group are elucidated in detail. Their contribution on forecasting performance and benefits to the power system operation are examined, also referring to the related literature examples. Furthermore, general remarks and conclusions are presented with the objective of providing reference information for future studies on improving forecasting accuracy and incorporating forecasts into decision-making process in power systems.

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