Abstract
Wind speed interval prediction is gaining importance in optimal planning and operation of power systems. However, the unpredictable characteristics of wind energy makes quality forecasting an arduous task. In this paper, we propose a novel hybrid model for wind speed interval prediction using an autoencoder and a bidirectional long short term memory neural network. The autoencoder initially extracts important unseen features from the wind speed data. The artificially generated features are utilized as input to the bidirectional long short term memory neural network to generate the prediction intervals. We also demonstrate that for time series prediction tasks, feature extraction through autoencoder is more effective than making deep residual networks. In our experiments which involve eight cases distributed among two wind fields, the proposed method is able to generate narrow prediction intervals with high prediction interval coverage and achieve an improvement of 39% in coverage width criterion over the traditional models.