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The intermittent nature of wind energy raised multiple challenges to the power systems and is the biggest challenge to declare wind energy a reliable source. One solution to overcome this problem is wind energy forecasting. A precise forecast can help to develop appropriate incentives and well-functioning electric markets. The paper presents a comprehensive review of existing research and current developments in deterministic wind speed and power forecasting. Firstly, we categorize wind forecasting methods into four broader classifications: input data, time-scales, power output, and forecasting method. Secondly, the performance of wind speed and power forecasting models is evaluated based on 634 accuracy tests reported in twenty-eight published articles covering fifty locations of ten countries. From the analysis, the most significant errors were witnessed for the physical models, whereas the hybrid models showed the best performance. Although, the physical models have a large normalized root mean square error values but have small volatility. The hybrid models perform best for every time horizon. However, the errors almost doubled at the medium-term forecast from its initial value. The statistical models showed better performance than artificial intelligence models only in the very short term forecast. Overall, we observed the increase in the performance of forecasting models during the last ten years such that the normalized mean absolute error and normalized root mean square error values reduced to about half the initial values.

Current Perspective on the Accuracy of Deterministic Wind Speed and Power Forecasting