Wind energy production by means of diffusion stochastic process. Parameters estimation

Abstract

In this work, we attempt to model wind energy production via a stochastic diffusion process. We consider an Ito-type stochastic differential * equation (SDE) and determine the probabilistic characteristics of the stochastic process solution, particularly the first-order moment. Parameter estimation is based on discrete sampling of the process paths and the use of the maximum likelihood approach. Finally, we propose an application example to wind energy production in Morocco.

Keywords

• stochastic model
• diffusion process
• maximum likelihood method
• parameter estimation