A Two-Stage Industrial Load Forecasting Scheme for Day-Ahead Combined Cooling, Heating and Power Scheduling

Sungwoo Park, Jihoon Moon, Seungwon Jung, Seungmin Rho, Sung Wook Baik and Eenjun Hwang
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Sungwoo Park: School of Electrical Engineering, Korea University, 145 Anam-ro, Seongbuk-gu, Seoul 02841, Korea
Jihoon Moon: School of Electrical Engineering, Korea University, 145 Anam-ro, Seongbuk-gu, Seoul 02841, Korea
Seungwon Jung: School of Electrical Engineering, Korea University, 145 Anam-ro, Seongbuk-gu, Seoul 02841, Korea
Seungmin Rho: Department of Software, Sejong University, 209 Neungdong-ro, Gwangjin-gu, Seoul 05006, Korea
Sung Wook Baik: Department of Software, Sejong University, 209 Neungdong-ro, Gwangjin-gu, Seoul 05006, Korea
Eenjun Hwang: School of Electrical Engineering, Korea University, 145 Anam-ro, Seongbuk-gu, Seoul 02841, Korea

Energies, 2020, vol. 13, issue 2, 1-23

Abstract: Smart grid systems, which have gained much attention due to its ability to reduce operation and management costs of power systems, consist of diverse components including energy storage, renewable energy, and combined cooling, heating and power (CCHP) systems. The CCHP has been investigated to reduce energy costs by using the thermal energy generated during the power generation process. For efficient utilization of CCHP and numerous power generation systems, accurate short-term load forecasting (STLF) is necessary. So far, even though many single algorithm-based STLF models have been proposed, they showed limited success in terms of applicability and coverage. This problem can be alleviated by combining such single algorithm-based models in ways that take advantage of their strengths. In this paper, we propose a novel two-stage STLF scheme; extreme gradient boosting and random forest models are executed in the first stage, and deep neural networks are executed in the second stage to combine them. To show the effectiveness of our proposed scheme, we compare our model with other popular single algorithm-based forecasting models and then show how much electric charges can be saved by operating CCHP based on the schedules made by the economic analysis on the predicted electric loads.

Keywords: short-term load forecasting; two-stage forecasting model; combined cooling heating and power; energy operation plan; economic analysis (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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