Advancements in Household Load Forecasting: Deep Learning Model with Hyperparameter Optimization

Abstract

Accurate load forecasting is of utmost importance for modern power generation facilities to effectively meet the ever-changing electricity demand. Predicting electricity consumption is a complex task due to the numerous factors that influence energy usage. Consequently, electricity utilities and government agencies are constantly in search of advanced machine learning solutions to improve load forecasting. Recently, deep learning (DL) has gained prominence as a significant area of interest in prediction efforts. This paper introduces an innovative approach to electric load forecasting, leveraging advanced DL techniques and making significant contributions to the field of energy management. The hybrid predictive model has been specifically designed to enhance the accuracy of multivariate time series forecasting for electricity consumption within the energy sector. In our comparative analysis, we evaluated the performance of our proposed model against ML-based and state-of-the-art DL models, using a dataset obtained from the Distribution Network Station located in Tetouan City, Morocco. Notably, the proposed model surpassed its counterparts, demonstrating the lowest error in terms of the Root-Mean-Square Error (RMSE). This outcome underscores its superior predictive capability and underscores its potential to advance the accuracy of electricity consumption forecasting.