Stochastic models for wind speed forecasting

Abstract: This paper is concerned with the problem of developing a general class of stochastic models for hourly average wind speed time series. The proposed approach has been applied to the time series recorded during 4years in two sites of Sicily, a region of Italy, and it has attained valuable results in terms both of modelling and forecasting. Moreover, the 24h predictions obtained employing only 1-month time series are quite similar to those provided by a feed-forward artificial neural network trained on 2years data. [ABSTRACT FROM AUTHOR]