A study on the efficiency of hybrid models in forecasting precipitations and water inflow Albania case study

Abstract

Climatic changes have a significant impact on many real life processes. Climacteric position of Albania makes precipitations and water inflows in HPP the main variables influencing the amount of electric energy produced in the country. Taking into account their volatility it has considerably increased the need of using hybrid models to improve the quality of predictions. After a detailed analysis of the time series components, we develop a group of hybrid models and propose modifications to increase the accuracy in prediction. Among the contributions of this work is the challenge to choose between hybrid models presented earlier in literature and the modified version according to the nature of data. The final decision on the most accurate model is made based on many goodness of fit test. This study suggest that an accurate selection of the forecasting techniques increases significantly the quality of forecast on precipitations and water inflow data.