Temporal Patterns and Seasonal Effects in Wind Power Forecasting: A Time Series Analysis

Harvesting renewable power from Wind and connecting the same to traditional grid system becomes more common in a microgrid architecture. As the traditional power and grid uses a day ahead forecasting for DISCOMS operation, there is a requirement for forecasting these renewable sources before connecting it to the grid. As an intermittent source of energy, it is difficult to predict the power extraction from these sources. The present tariff rate for per unit of electricity may not be applicable to this type of energy i.e., renewable energy particularly wind power. In the presented paper an attempt has been made to extract and predict the wind power and subsequent evaluation of tariff rate based on multi object optimization. A MATLAB model has been used evaluate the performance and tariff rate.