Evaluating prediction models for electricity consumption

This paper presents a system for visualizing electricity consumptiondata along with the implementation of a pattern recognition approach for peakprediction. Various classification algorithms and machine learning techniques aretested and discussed; in particular, Support Vector Machine (SVM), GaussianMixture Model (GMM) and hierarchical classifiers. Most notably, the bestalgorithms are able to detect 70% of the peaks occurring within the next 24 hours.Also, various ways of correlating energy consumption are considered in the presentcontext. Finally, a few directions for future work are discussed

Holistic Measures for Evaluating Prediction Models in Smart Grids

The performance of prediction models is often based on "abstract metrics" that estimate the model's ability to limit residual errors between the observed and predicted values. However, meaningful evaluation and selection of prediction models for end-user domains requires holistic and application-sensitive performance measures. Inspired by energy consumption prediction models used in the emerging "big data" domain of Smart Power Grids, we propose a suite of performance measures to rationally compare models along the dimensions of scale independence, reliability, volatility and cost. We include both application independent and dependent measures, the latter parameterized to allow customization by domain experts to fit their scenario. While our measures are generalizable to other domains, we offer an empirical analysis using real energy use data for three Smart Grid applications: planning, customer education and demand response, which are relevant for energy sustainability. Our results underscore the value of the proposed measures to offer a deeper insight into models' behavior and their impact on real applications, which benefit both data mining researchers and practitioners.Comment: 14 Pages, 8 figures, Accepted and to appear in IEEE Transactions on Knowledge and Data Engineering, 2014. Authors' final version. Copyright transferred to IEE

Grey-box Modelling of a Household Refrigeration Unit Using Time Series Data in Application to Demand Side Management

This paper describes the application of stochastic grey-box modeling to identify electrical power consumption-to-temperature models of a domestic freezer using experimental measurements. The models are formulated using stochastic differential equations (SDEs), estimated by maximum likelihood estimation (MLE), validated through the model residuals analysis and cross-validated to detect model over-fitting. A nonlinear model based on the reversed Carnot cycle is also presented and included in the modeling performance analysis. As an application of the models, we apply model predictive control (MPC) to shift the electricity consumption of a freezer in demand response experiments, thereby addressing the model selection problem also from the application point of view and showing in an experimental context the ability of MPC to exploit the freezer as a demand side resource (DSR).Comment: Submitted to Sustainable Energy Grids and Networks (SEGAN). Accepted for publicatio

Long-Term Load Forecasting Considering Volatility Using Multiplicative Error Model

Long-term load forecasting plays a vital role for utilities and planners in terms of grid development and expansion planning. An overestimate of long-term electricity load will result in substantial wasted investment in the construction of excess power facilities, while an underestimate of future load will result in insufficient generation and unmet demand. This paper presents first-of-its-kind approach to use multiplicative error model (MEM) in forecasting load for long-term horizon. MEM originates from the structure of autoregressive conditional heteroscedasticity (ARCH) model where conditional variance is dynamically parameterized and it multiplicatively interacts with an innovation term of time-series. Historical load data, accessed from a U.S. regional transmission operator, and recession data for years 1993-2016 is used in this study. The superiority of considering volatility is proven by out-of-sample forecast results as well as directional accuracy during the great economic recession of 2008. To incorporate future volatility, backtesting of MEM model is performed. Two performance indicators used to assess the proposed model are mean absolute percentage error (for both in-sample model fit and out-of-sample forecasts) and directional accuracy.Comment: 19 pages, 11 figures, 3 table