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Research and Application of a Novel Combined Model Based on Multiobjective Optimization for Multistep-Ahead Electric Load Forecasting

Author

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  • Yechi Zhang

    (School of Statistics, Dongbei University of Finance and Economics, Dalian 116025, China)

  • Jianzhou Wang

    (School of Statistics, Dongbei University of Finance and Economics, Dalian 116025, China)

  • Haiyan Lu

    (School of Software, Faculty of Engineering and Information Technology, University of Technology, Sydney 2007, Australia)

Abstract

Accurate forecasting of electric loads has a great impact on actual power generation, power distribution, and tariff pricing. Therefore, in recent years, scholars all over the world have been proposing more forecasting models aimed at improving forecasting performance; however, many of them are conventional forecasting models which do not take the limitations of individual predicting models or data preprocessing into account, leading to poor forecasting accuracy. In this study, to overcome these drawbacks, a novel model combining a data preprocessing technique, forecasting algorithms and an advanced optimization algorithm is developed. Thirty-minute electrical load data from power stations in New South Wales and Queensland, Australia, are used as the testing data to estimate our proposed model’s effectiveness. From experimental results, our proposed combined model shows absolute superiority in both forecasting accuracy and forecasting stability compared with other conventional forecasting models.

Suggested Citation

  • Yechi Zhang & Jianzhou Wang & Haiyan Lu, 2019. "Research and Application of a Novel Combined Model Based on Multiobjective Optimization for Multistep-Ahead Electric Load Forecasting," Energies, MDPI, vol. 12(10), pages 1-27, May.
    • Handle: RePEc:gam:jeners:v:12:y:2019:i:10:p:1931-:d:232799
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    2. Antonio Gabaldón & María Carmen Ruiz-Abellón & Luis Alfredo Fernández-Jiménez, 2022. "Guest Editorial: Special Issue on Short-Term Load Forecasting 2019, Results and Future Perspectives," Energies, MDPI, vol. 15(24), pages 1-5, December.
    3. Wang, Jianzhou & Xing, Qianyi & Zeng, Bo & Zhao, Weigang, 2022. "An ensemble forecasting system for short-term power load based on multi-objective optimizer and fuzzy granulation," Applied Energy, Elsevier, vol. 327(C).
    4. Jiang, Ping & Liu, Zhenkun & Niu, Xinsong & Zhang, Lifang, 2021. "A combined forecasting system based on statistical method, artificial neural networks, and deep learning methods for short-term wind speed forecasting," Energy, Elsevier, vol. 217(C).

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