Stochastic simulation of photovoltaic electricity feed-in considering spatial correlation

The growing generation capacity of electricity from renewable energy sources (RES-E) around the globe has an increasing impact on traditional energy and electricity markets. Well-ahead planned investment decisions as well as short term management of the power plant and storage dispatch and other challenges are highly dependent on the feed-in of RES-E. Therefore a thorough research of RES-E supply and knowledge about methods to generate corresponding model input is crucial when simulating electricity markets.