Algorithms for Hyperparameter Tuning of LSTMs for Time Series Forecasting

Abstract

The rapid growth in the use of Solar Energy for sustaining energy demand around the world requires accurate forecasts of Solar Irradiance to estimate the contribution of solar power to the power grid. Accurate forecasts for higher time horizons help to balance the power grid effectively and efficiently. Traditional forecasting techniques rely on physical weather parameters and complex mathematical models. However, these techniques are time-consuming and produce accurate results only for short forecast horizons. Deep Learning Techniques like Long Short Term Memory (LSTM) networks are employed to learn and predict complex varying time series data. However, LSTM networks are susceptible to poor performance due to improper configuration of hyperparameters. This work introduces two new algorithms for hyperparameter tuning of LSTM networks and a Fast Fourier Transform (FFT) based data decomposition technique. This work also proposes an optimised workflow for training LSTM networks based on the above techniques. The results show a significant fitness increase from 81.20% to 95.23% and a 53.42% reduction in RMSE for 90 min ahead forecast after using the optimised training workflow. The results were compared to several other techniques for forecasting solar energy for multiple forecast horizons.