Forecasting Electricity Consumption Data from Paraguay Using a Machine Learning Approach

García-Torres, Miguel; Gómez-Vela, Francisco; Morales, Félix; Divina, Federico; Becerra-Alonso, David; Velázquez, Gustavo; Daumas-Ladouce, Federico; Noguera, José Luis Vázquez; Ayala, Carlos Sauer; Pinto-Roa, Diego P.; Gardel-Sotomayor, Pedro E.; Román, Julio César Mello

doi:10.1007/978-3-030-87869-6_65

Cited by 3 publications

(1 citation statement)

References 18 publications

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“…Forecasting methods based on machine learning are commonly used for this type of scenario (Gallardo, 2021). When the problem is centered on the provision of several units, it is normal to perform a clustering first to reduce the models to be used (Morales, 2022).…”

Section: Introductionmentioning

confidence: 99%

Hyperparameter Optimization of Deep Learning Model for Short-Term Electricity Demand Forecasting

Proceedings of the International Conference on Industrial Engineering and Operations Management

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Short-term electricity demand forecasting represents a fundamental tool for decision-making by entities engaged in electricity management since it allows the development of strategies to meet variations in electricity demand in short periods. The accuracy of predictive models is an important factor for energy operations and the scheduling of energy generation sources to meet the demand at each instant. Intelligent models based on Recurrent Neural Networks (RNN) require hyperparameter adjustment. These models have several hyperparameters that substantially affect their performance. Our paper implements a Long-Short Term Memory (LSTM) model and four search methods to adjust its hyperparameters. First, we select the length of historical window and the hidden state size of LSTM cells for optimization. Second, we draw comparisons between the grid search, random search, a Bayesian scheme, and a genetic algorithm. The data set used for training and validation of the model includes hourly electricity consumption and meteorological variables recorded in Paraguay from 2015 to 2021. The proposed model was evaluated through numerical experiments with classical error measures such as the root mean square error (RMSE), the correlation, the runtime, and the mean absolute percentage error (MAPE). Our comparative study shows that grid search and genetic algorithm give the optimal hyperparameters with high validation accuracy on the test dataset. However, it is important to note that grid search may require much more evaluations and computational resources.

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Section: Introductionmentioning

confidence: 99%

Hyperparameter Optimization of Deep Learning Model for Short-Term Electricity Demand Forecasting

Proceedings of the International Conference on Industrial Engineering and Operations Management

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Machine Learning-Based Analysis and Forecasting of Electricity Demand in Misamis Occidental, Philippines

Saumat,

Yahya

2024

Learning and Analytics in Intelligent Systems

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Short-Term Electricity Demand Forecasting: Evaluating the Effectiveness of Statistical, Machine Learning, and Deep Learning Models

Morales-Mareco,

Ayala,

Stalder

et al. 2023

2023 XLIX Latin American Computer Conference (CLEI)

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Forecasting Electricity Consumption Data from Paraguay Using a Machine Learning Approach

Cited by 3 publications

References 18 publications

Hyperparameter Optimization of Deep Learning Model for Short-Term Electricity Demand Forecasting

Hyperparameter Optimization of Deep Learning Model for Short-Term Electricity Demand Forecasting

Machine Learning-Based Analysis and Forecasting of Electricity Demand in Misamis Occidental, Philippines

Short-Term Electricity Demand Forecasting: Evaluating the Effectiveness of Statistical, Machine Learning, and Deep Learning Models

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