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Comprehensive and Comparative Analysis of GAM-Based PV Power Forecasting Models Using Multidimensional Tensor Product Splines against Machine Learning Techniques

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  • Takuji Matsumoto

    (Socio-Economic Research Center, Central Research Institute of Electric Power Industry, Chiyoda-ku, Tokyo 100-8126, Japan)

  • Yuji Yamada

    (Faculty of Business Sciences, University of Tsukuba, Bunkyo-ku, Tokyo 112-0012, Japan)

Abstract

In recent years, as photovoltaic (PV) power generation has rapidly increased on a global scale, there is a growing need for a highly accurate power generation forecasting model that is easy to implement for a wide range of electric utilities. Against this background, this study proposes a PV power forecasting model based on the generalized additive model (GAM) and compares its forecasting accuracy with four popular machine learning methods: k-nearest neighbor, artificial neural networks, support vector regression, and random forest. The empirical analysis provides an intuitive interpretation of the multidimensional smooth trends estimated by the GAM as tensor product splines and confirms the validity of the proposed modeling structure. The effectiveness of GAM is particularly evident in trend completion for missing data, where it is able to flexibly express the tangled trend structure inherent in time series data, and thus has an advantage not only in interpretability but also in improving forecast accuracy.

Suggested Citation

  • Takuji Matsumoto & Yuji Yamada, 2021. "Comprehensive and Comparative Analysis of GAM-Based PV Power Forecasting Models Using Multidimensional Tensor Product Splines against Machine Learning Techniques," Energies, MDPI, vol. 14(21), pages 1-22, November.
    • Handle: RePEc:gam:jeners:v:14:y:2021:i:21:p:7146-:d:669790
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    Cited by:

    1. Adam Krechowicz & Maria Krechowicz & Katarzyna Poczeta, 2022. "Machine Learning Approaches to Predict Electricity Production from Renewable Energy Sources," Energies, MDPI, vol. 15(23), pages 1-41, December.
    2. Yuji Yamada & Takuji Matsumoto, 2023. "Construction of Mixed Derivatives Strategy for Wind Power Producers," Energies, MDPI, vol. 16(9), pages 1-26, April.

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