Forecasting of global horizontal irradiance by exponential smoothing, using decompositions

In particular, three decomposition methods are proposed. The first method implements an additive seasonal-trend decomposition as a preprocessing technique prior to ETS. This can reduce the state space thus improve the computational efficiency. The second method decomposes the GHI (global horizontal irradiance) time series into a direct component and a diffuse component. These two components are used as forecasting model inputs separately; and their corresponding results are recombined via the closure equation to obtain the GHI forecasts. In the third method, the time series of the cloud cover index is considered. ETS is applied to the cloud cover time series to obtain the cloud cover forecast thus the forecast GHI through polynomial regressions. The results show that the third method performs the best among three methods and all proposed methods outperform the persistence models.