Global Investigation of Double Periodicity οf Hourly Wind Speed for Stochastic Simulation; Application in Greece

The wind process is considered an important hydrometeorological process and one of the basic resources of renewable energy. In this paper, we analyze the double periodicity of wind, i.e., daily and annual, for numerous wind stations with hourly data around the globe and we develop a four-parameter model. Additionally, we apply this model to several stations in Greece and we estimate their marginal characteristics and stochastic structure best described by an extended-Pareto marginal probability function and a Hurst-Kolmogorov process, respectively.