Benchmarks and Custom Package for Energy Forecasting
Energy (load, wind, photovoltaic) forecasting is significant in the power industry as it can provide a reference for subsequent tasks such as power grid dispatch, thus bringing huge economic benefits. However, there are many differences between energy forecasting and traditional time series forecasting. On the one hand, traditional time series mainly focus on capturing characteristics like trends and cycles. In contrast, the energy series is largely influenced by many external factors, such as meteorological and calendar variables. On the other hand, energy forecasting aims to minimize the cost of subsequent tasks such as power grid dispatch, rather than simply pursuing prediction accuracy. In addition, the scale of energy data can also significantly impact the predicted results. In this paper, we collected large-scale load datasets and released a new renewable energy dataset that contains both station-level and region-level renewable generation data with meteorological data. For load data, we also included load domain-specific feature engineering and provided a method to customize the loss function and link the forecasting error to requirements related to subsequent tasks (such as power grid dispatching costs), integrating it into our forecasting framework. Based on such a situation, we conducted extensive experiments with 21 forecasting methods in these energy datasets at different levels under 11 evaluation metrics, providing a comprehensive reference for researchers to compare different energy forecasting models.
Code (1)
Tasks
Feature EngineeringLoad ForecastingTime SeriesTime Series ForecastingSimilar Papers 제목 키워드 기반
onlineforecast: An R package for adaptive and recursive forecasting
Systems that rely on forecasts to make decisions, e.g. control or energy trading systems, require frequent updates of the forecasts. Usually, the forecasts are updated whenever new observations become available, hence in…
energy tradingAutomated Deep Learning for Load Forecasting
Accurate forecasting of electricity consumption is essential to ensure the performance and stability of the grid, especially as the use of renewable energy increases. Forecasting electricity is challenging because it dep…
Deep LearningLoad ForecastingPhysics-aware Truck and Drone Delivery Planning Using Optimization & Machine Learning
Combining an energy-efficient drone with a high-capacity truck for last-mile package delivery can benefit operators and customers by reducing delivery times and environmental impact. However, directly integrating drone f…
Trajectory PlanningCascaded Deep Hybrid Models for Multistep Household Energy Consumption Forecasting
Sustainability requires increased energy efficiency with minimal waste. The future power systems should thus provide high levels of flexibility iin controling energy consumption. Precise projections of future energy dema…
An explainable machine learning approach for energy forecasting at the household level
Electricity forecasting has been a recurring research topic, as it is key to finding the right balance between production and consumption. While most papers are focused on the national or regional scale, few are interest…