Electricity Load Forecasting Using Artificial Neural Network in Matlab
The electricity power consumption is a non-linear process. Artificial Neural Networks have the capability to predict future data based on the data fed for training as it can recognize the pattern in it. This will in turn enable us to maintain a good power management and in the needy times we can use renewable resources of energy like wind energy or solar energy.
This example demonstrates building and validating a short term forecasting of electricity loadmodel with MATLAB. The models take into account multiple sources of information including temperatures and holidays in constructing a day-ahead load forecaster. This script uses Neural Networks. Bayesian regularization algorithm is used in this forecasting section