A novel approach for the forecasting of mean hourly wind speed time series

This paper presents a novel method for the forecasting of mean hourly wind speed data using time series analysis. The initial point for this approach is mainly the fact that none of the forecasting approaches for hourly data, that can be found in the literature, based on time series analysis or meteorological models, gives significantly lower prediction error than the elementary persistent approach. This was combined with the characteristics of the wind speed data, which are determined by the power spectrum values, distinguished by the spectral gap in intervals between 20 minutes and 2 hours. The finally proposed methodology is based on the multi-step forecasting of 10 minutes averaged data and the subsequent averaging to generate mean hourly predictions. When applied to two independent data sets, this approach outperformed by a factor of four, the conventional one which utilizes past mean hourly wind speed values as inputs to the forecasting models.