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Energy forecasting: A review and outlook

Author

Listed:
  • Tao Hong
  • Pierre Pinson
  • Yi Wang
  • Rafal Weron
  • Dazhi Yang
  • Hamidreza Zareipour

Abstract

Forecasting has been an essential part of the power and energy industry. Researchers and practitioners have contributed thousands of papers on forecasting electricity demand and prices, and renewable generation (e.g., wind and solar power). This paper offers a brief review of influential energy forecasting papers; summarizes research trends; discusses importance of reproducible research and points out six valuable open data sources; makes recommendations about publishing high-quality research papers; and offers an outlook into the future of energy forecasting.

Suggested Citation

  • Tao Hong & Pierre Pinson & Yi Wang & Rafal Weron & Dazhi Yang & Hamidreza Zareipour, 2020. "Energy forecasting: A review and outlook," WORking papers in Management Science (WORMS) WORMS/20/08, Department of Operations Research and Business Intelligence, Wroclaw University of Science and Technology.
    • Handle: RePEc:ahh:wpaper:worms2008
    as

    Download full text from publisher

    File URL: https://worms.pwr.edu.pl/RePEc/ahh/wpaper/WORMS_20_08.pdf
    File Function: Original version, 2020
    Download Restriction: no
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    More about this item

    Keywords

    Energy forecasting; Load forecasting; Electricity price forecasting; Wind forecasting; Solar forecasting;
    All these keywords.

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q47 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy Forecasting

    NEP fields

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