Enhancing Electrical Power Demand Prediction Using LSTM-Based Deep Learning Models for Local Energy Communities

Abstract

The pursuit of accurate electrical power demand forecasting has led to the application of deep learning algorithms, notably demonstrating promising outcomes despite the prerequisite of substantial training data. This study pioneers a new learning paradigm, employing sophisticated deep learning models specifically, Long Short-Term Memory networks and recurrent neural networks (RNNs). Leveraging historical load data, temperature, wind speed, and day-ahead predicted spot prices, this approach follows a structured flow involving data preprocessing, sequence generation, model training, and subsequent prediction of future load demand using LSTM-based RNN variants. The study’s paramount findings underscore the substantial advancement achieved by this proposed methodology over prevailing techniques. The method significantly improves prediction accuracy by over 11%, demonstrating the efficacy of deep learning models and a significant leap forward in forecasting precision. Beyond its superior predictive capabilities, this novel strategy serves as a catalyst for enhancing energy distribution management in local energy communities. Its effectiveness lies not only in its precision but also in enabling the optimization and cost-effective control of energy distribution, vital for sustainable energy management in these communities. Ultimately, this pioneering approach presents a robust solution poised to revolutionize the landscape of electrical power demand forecasting and its practical application in local energy systems.