Benchmarking Time-Series Forecasting Models for Smart Meter Data
摘要
When making decisions and maximizing energy production and distribution to satisfy consumer demands—especially in light of shifting demand—accurate forecasting of energy use is crucial. The extensive use of smart meters has completely changed the way time-series data on energy use is gathered, offering fine-grained insights into usage trends. Eight time-series forecasting models—ARIMA, SARIMA, DT, KNN, SVM, ANN, CNN, and LSTM—are thoroughly compared in this research in order to determine which model performs best on the dataset from smart meters. Several statistical metrics are used to evaluate the models, and the analysis of the experimental findings showed that the LSTM model performed the best in terms of prediction, with an RMSE equal to 2.106, a MAPE equal to 0.19, and an MAE equal to 1.599.