Statistical analysis of environment Canada's wind speed data

Wind energy utilities use wind speed modeling and prediction to forecast their power production in order to participate in electricity markets. Time-series models which are indirectly based on a Weibull Distribution (WD) are used extensively to predict wind speed. The WD is converted into an approximately Gaussian distribution, as there are no rigorously developed time-series models for random variables possessing a WD. This conversion is performed using the parameters of the WD, a procedure that may negatively impact the accuracy of the forecast - research has demonstrated that WDs under- or over-fit the lower and upper ranges of wind speed histograms.