In load forecasting, there are numerous models. Engineers often face this dilemma that which models among the many can be selected for forecasting of electrical load or demand needed from a power generation unit. The trick is to use the most significant factors and ODM tool to identify the best tool for load forecasting.

1. WHICH MODEL
TO SELECT IF
YOU CAN USE
ONLY ONE?
DR.MRINMOY MAJUMDER
(ORCID ID : 0000-0001-6231-
5989)
Lecture 1 of “INTRODUCTION TO WATER BASED RENEWABLE ENERGY” course and “RENEWABLE
ENERGY” of MTECH(HYDROINFORMATICS ENGG)
Blog :https://waterandenergynexus.blogspot.com

2. IMPORTANCE
There are numerous models available for load prediction. But
not all the models are equally efficient and model accuracy
varies with many different factors.
That is why the smart selection of a model for approximation of
electrical load or consumption or generation is essential for
useful decision making which again will be the main platform
for policymaking.
Identification of the most significant factor and selection of
models based on those factors ensure accurate but quick
prediction.
First, go through the important factors that will be useful for the
selection of an optimal forecasting model and second visit the
optimal decision-maker web apps and to find a better option
among all the available models.

3. IMPORTANT FACTORS
For short-term load forecasting :
1.Time factors
2.Weather data
3.Possible customers’ classes

4. Important Factors
For the medium- and
long-term forecasting
models
Historical
and weather
data
Number of
customers
in different
categories
Appliances in
the area and
their
characteristi
including age
Economic and
demographic
data and their
forecasts
Appliance
sales data
Other

5. OPTIMAL
DECISION
MAKER
IDENTIFY THE BEST OPTION
VERSION 1
LINK :
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