Song, Zhe; Jiang, Yu; Zhang, Zijun - In: Applied Energy 130 (2014) C, pp. 103-112
A Markov-switching model in wind speed forecasting is examined in this research. The proposed method employs a regime switching process governed by a discrete-state Markov chain to model the nonlinear evolvement of the wind speed time-series. A Bayesian inference rather than the traditional...