The most important energy source from the field of renewable energies in europe is wind. Currently, wind can still be interpreted as a stochastic variable. Accordingly, we try to improve our understanding of the structure of the wind with mathematical and statistical tools.
Status: waiting position
Source: Michael Miehe
Basic funding of the Max Planck Society.
Wind energy represents an important future economic sector due to the increasing interest in renewable energy worldwide. For this reason, wind turbine performance prediction is an important task for economists. Accordingly, the field of energy economics is in a state of flux and offers a variety of new research questions.
Wind energy is gaining an ever-increasing share in the electricity mix of many countries. Our goal is to estimate the wholesale price and thus provide planning certainty in the markets and reduce the impact of fluctuation of wind energy. For this analysis, we treat offshore and onshore wind energy as variables to be considered and their impact on the European Energy Exchange. Using these models, we can identify various parameters and how they affect wholesale electricity prices.