Greek long-term energy consumption prediction using artificial neural networks

L. Ekonomou

Energy, 2010, vol. 35, issue 2, 512-517

Abstract: In this paper artificial neural networks (ANN) are addressed in order the Greek long-term energy consumption to be predicted. The multilayer perceptron model (MLP) has been used for this purpose by testing several possible architectures in order to be selected the one with the best generalizing ability. Actual recorded input and output data that influence long-term energy consumption were used in the training, validation and testing process. The developed ANN model is used for the prediction of 2005–2008, 2010, 2012 and 2015 Greek energy consumption. The produced ANN results for years 2005–2008 were compared with the results produced by a linear regression method, a support vector machine method and with real energy consumption records showing a great accuracy. The proposed approach can be useful in the effective implementation of energy policies, since accurate predictions of energy consumption affect the capital investment, the environmental quality, the revenue analysis, the market research management, while conserve at the same time the supply security. Furthermore it constitutes an accurate tool for the Greek long-term energy consumption prediction problem, which up today has not been faced effectively.

Keywords: Artificial neural networks; Energy consumption; Gross domestic product; Installed capacity; Multilayer perceptron; Prediction; Linear regression method; Support vector machine method (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (122)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:35:y:2010:i:2:p:512-517

DOI: 10.1016/j.energy.2009.10.018

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