Description
Electricity demand forecasting is vital for any organization that operates and/or is impacted by the electricity market. Electricity storage technologies have not caught up to accommodate the current…
Summary
- Keep it simple, keep it linear: Since we are dealing with hourly data and the variation in temperature is not significant within a couple of hours, we can fill in the missing data with its value from the previous hour.
- Temperature vs Demand for the five categories of hour of the day The temperature vs demand scatter plot is shown above.
- The latter models also consume a lot of time to tune the hyperparamters.