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• The KDE-UCV is introduced for the first time for long-term power system planning. • The nonparametric model is applied to both of wind speed and solar irradiance datasets. • KDE-UCV produces accurate probability densities than conventional approaches. • Assessments reveal robust performance with high R2 and low error metrics. • K-S test results indicate a clear evidence of a good fit for the KDE-UCV estimator. Uncertainties associated with power generation from wind energy systems and Photovoltaic (PV) power systems present a major challenge for power system planners and operators. To account for such uncertainties, probabilistic models and probability density estimations for wind speed and solar irradiance, and their corresponding wind and PV power are highly required for long-term (multi-year) power system planning, expansion, and dispatching tools. In this article, a novel Kernel Density Estimator (KDE) model using unbiased cross-validation method for bandwidth selection is proposed for the estimation of both wind speed and solar irradiance probability densities. The estimation performance of the proposed model is assessed against the traditional parametric models (Weibull and Rayleigh distributions for wind speed, and Beta distribution for solar irradiance), and the traditional nonparametric KDE approach employing a rule-of-thumb method for bandwidth selection. The performance accuracy of all models is tested using the coefficient of determination R 2 , two error metrics (Mean Absolute Error (MAE) and Root Mean Squared Error (RMSE)), in addition to the Kolmogorov–Smirnov (K–S) test that was used to assess the goodness-of-fit. The proposed approach achieved the highest percentage improvements for R 2 (24% and 23%), and the lowest MAE (66% and 36%) and RMSE (63% and 25%) metrics over the popular parametric distributions for wind speed and solar irradiance, respectively, in addition to the K–S test p-values indicating a clear evidence of a good fit. Results confirm the accuracy and robustness of the probability density estimates for wind speed and solar irradiance produced by the proposed model. [ABSTRACT FROM AUTHOR]