This paper made an in-depth analysis of the articulation between a substation’s design parameters and water supply and drainage structure quantities and costs, innovatively built a hierarchical structure model of influencing factors of quantities, and eventually extracted the key parameters affecting quantities. Meanwhile, the influence path of the price level change on the water supply and drainage structure costs was also analyzed in this paper. The BP neural network model and linear regression model were employed to estimate the ontology engineering cost and the price difference due to preparation time, so as to realize the purpose of quickly estimating the cost of substation water supply and drainage structure by knowing a few key parameters. Through calculation and stimulated analysis, the error of the model is controlled within ±3%, which provides an effective tool for quickly estimating the cost of substation water supply and drainage structure. Therefore, this model has practical significance and application value.
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