Probabilistic approach of intermittent energy production: The case of wind turbines in Belgium
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- Wind turbines are an intermittent energy source, meaning their production depends on a physical flux and is inherently random, as opposed to more traditional ways of producing electricity, that are dispatchable. Belgian data is used, analyzed with partial identification, and is modeled with a locally stationary wavelet (LSW) process to try to assess the inherent risk of wind energy, what can be done about it by considering off-shore and on-shore wind turbines as two different assets in a portfolio and see the potential of this energy source in terms of percentage of electrical consumption.