Abstract
This chapter focuses on the growth, development, and future of some renewable energy technologies that are the future of distributed generation. The main focus, however, is on the probabilistic forecasting of intermittent types of renewable energy generation due to their need in different smart grid applications. A comprehensive idea is developed about the different kinds of forecasting techniques with evaluation metrics. Various forecasting approaches are discussed with the primary focus on quantile-based probabilistic forecasting. Using the case of photovoltaic generation, four probabilistic forecasting models are simulated, and their forecasting capabilities are analyzed. A complete section is dedicated to discussion and analysis of the obtained results. The use of real-world datasets for the simulations helps in studying the actual cases, thus providing motivation for applications in planning, management, and smart grid operations.
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