Short term load forecasting based on ARIMA and ANN approaches

Forecasting electricity demand requires accurate and sustainable data acquisition systems which rely on smart grid systems. To predict the demand expected by the grid, many smart meters are required to collect sufficient data. However, the problem is multi-dimensional and simple power aggregation techniques may fail to capture the relational similarities between the various types of users. Therefore, accurate forecasting of energy demand plays a key role in planning, setting up, and implementing networks for the renewable energy systems, and continuously providing energy to consumers. This is also a key element for planning the requirement for storage devices and their storage capacity. Additionally, errors in…