A Deep Learning Approach to Real-time Electricity Load Forecasting

Abstract

In light of the increasing importance of accurate and real-time electrical demand forecasting, this research presents a deep learning model with the goal of dramatically improving predictive accuracy. Conventional methods of forecasting, such as linear regression, have trouble capturing the complex patterns included in data about electricity usage. Standard machine learning methods are shown to be wanting when compared to the suggested deep Long Short-Term Memory (LSTM) model. Mean Absolute Error (MAE) of 5.454 and Mean Squared Error (MSE) of 18.243 demonstrate the deep LSTM model's proficiency in tackling this problem. The linear regression, on the other hand, achieved a MAE of 47.352 and an MSE of 65.606, which is lower than the proposed model. Because of its greater predictive precision and reliability, the deep LSTM model is a viable option for accurate, real-time prediction of electricity demand.