2020
DOI: 10.1108/jedt-12-2019-0337
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Day-ahead load forecasting using improved grey Verhulst model

Abstract: Purpose In the daily energy dispatch process in a power system, accurate short-term electricity load forecasting is a very important tool used by spot market players. It is a critical requirement for optimal generator unit commitment, economic dispatch, system security and stability assessment, contingency and ancillary services management, reserve setting, demand side management, system maintenance and financial planning in power systems. The purpose of this study is to present an improved grey Verhulst elect… Show more

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Cited by 5 publications
(4 citation statements)
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References 35 publications
(35 reference statements)
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“…Long short-term memory (LSTM) developed from a recurrent neural network (RNN) can deal with long-term dependencies of time series, avoiding gradient vanishing and exploding of the RNN [17]. A convolutional neural network (CNN) can effectively capture the local relationships among adjacent time points [18] and is also widely used in many fields, such as image recognition [19], renewable energy forecasting [20], as well as load forecasting [21]. However, a large number of hyperparameters of CNN can easily result in overfitting of the training model.…”
Section: Introductionmentioning
confidence: 99%
“…Long short-term memory (LSTM) developed from a recurrent neural network (RNN) can deal with long-term dependencies of time series, avoiding gradient vanishing and exploding of the RNN [17]. A convolutional neural network (CNN) can effectively capture the local relationships among adjacent time points [18] and is also widely used in many fields, such as image recognition [19], renewable energy forecasting [20], as well as load forecasting [21]. However, a large number of hyperparameters of CNN can easily result in overfitting of the training model.…”
Section: Introductionmentioning
confidence: 99%
“…By considering the risk factors affecting renewable energy (Addy et al , 2019), a total of 175 GW of solar power will be required up to the year 2022 in India. This huge amount of power cannot be generated from conventional thermal power plants as these sources are at their edge of depletion and electrical energy prediction (Mhundwa and Simon, 2021) as well as load forecasting (Mbae and Nwulu, 2020) are critical to investigate. Thus, other clean sources of energy are required to be used to counter balance the highly releasing CO 2 in the atmosphere (Razykov et al , 2011).…”
Section: Introductionmentioning
confidence: 99%
“…ARIMA involves a stochastic difference equation frequently used to model stochastic disturbances in a time series analysis. As the load-time series analysis is highly complex, simple linear ARIMA-based modeling methods cannot be used for modeling the load curves (Huang and Shih, 2003;Singh et al, 2012;Mbae and Nwulu, 2020). This linear nature of conventional methods made the researchers move toward artificial neural network (ANN)based prediction techniques to capture non-linearity (Singh et al, 2018).…”
Section: Introductionmentioning
confidence: 99%