Improving the wind farm profitability estimates by forecasting penetration market impact

Abstract

Renewableenergyisincreasinglyutilizingquantitativemethodstogainthe competitiveedgeonthederegulatedmarkets.Themajorareaamongthem are forecastingmethods,allowingthebusinesstoprojectthefuturereturns on thewindandsolarfarms,havingtheregion’sweatherandpresentmarket conditions asinput.Thisstudyattemptstoconstructamodelforsuch forecasting forwindfarms,predictiontargetbeingthespreadbetweenday- ahead andimbalanceprice,whichisvitalforrenewableenergygeneratorsfor profit estimates.