Application of a generic simulation method for demanding stochastic processes to hydrometeorological variables for the quantification of renewable energy resources

Renewable energy offers solution for island communities who try to be energy independent, yet the stochastic nature of weather phenomena creates challenges for reliable energy generation. The significance of stochastic simulation in renewable energy planning for islands is highlighted, focusing in the case study of Astypalea island in the Aegean Sea. Astypalea, like many islands, faces energy insecurities due to its reliance on imported fossil fuels. This thesis addresses this issue implementing a stochastic simulation model developed by (Koutsoyiannis, 2021, 2000) and (Dimitriadis and Koutsoyiannis, 2018) in various types of datasets, such as, wind, solar irradiance, wave height and period corresponding to the island of Astypalea. In this thesis the Symmetric Moving Average scheme was used for the generation of the simulated values combined with Hurst-Kolmogorov process described by its climacogram. The extended Symmetric Moving Average Model as will be introduced can preserve high order moments of a process and as proved by preserving the coefficient of kurtosis can capture the intermittency of hydrometeorological processes. With this methodology we can expect insights for optimizing renewable energy systems in island contexts, ensuring sustainable and reliable energy generation.