A Regime-Switching Spatio-Temporal GARCH Method for Short-Term Wind Forecasting
The growth of wind energy poses challenges to the integration of wind energy into the power grid. Within a wind farm, the conditions of local wind exhibit sizeable variations in very short term period and temporal wind speed patterns vary from turbine to turbine. Hence, short-term wind forecasting has been adopted to assist power system operations. In this work, we propose a wind plant-level short term wind speed and power forecasting methodology considering turbine contributions. The proposed model utilizes spatio-temporal dependencies and nonstationarity to accommodate the characteristics of wind farm data by using a novel regime-switching spatiotemporal generalized autoregressive conditional heteroscedasticity (RS-stGARCH) model. Case studies based on 2 years of data from a wind farm shows that the proposed RS-stGARCH method outperforms benchmark models by up to 21.10% for wind speed forecasting and up to 58.62% for the wind power forecasting.