Data Modeling for Renewable Resources and Smart Home using Monte Carlo Simulations

Abstract

This paper introduces the use of Monte Carlo simulations (MCSs) for modeling stochastic behavior of wind speed, irradiance, temperature, load and electricity rate (ER) as well as the availability of PEV. Two methods are introduced. Probability distributions and their parameters are described in the first method which can be use in the future researches. Second method is introduced for MCS to consider the correlation between different databases and the correlation of each interval value with their prior interval value. Recommendations are provided for the first method in the future studies.