A Comprehensive Study of Random Forest for Short-Term Load Forecasting

Grzegorz Dudek ()
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Grzegorz Dudek: Department of Electrical Engineering, Częstochowa University of Technology, 42-200 Częstochowa, Poland

Energies, 2022, vol. 15, issue 20, 1-19

Abstract: Random forest (RF) is one of the most popular machine learning (ML) models used for both classification and regression problems. As an ensemble model, it demonstrates high predictive accuracy and low variance, while being easy to learn and optimize. In this study, we use RF for short-term load forecasting (STLF), focusing on data representation and training modes. We consider seven methods of defining input patterns and three training modes: local, global and extended global. We also investigate key RF hyperparameters to learn about their optimal settings. The experimental part of the work demonstrates on four STLF problems that our model, in its optimal variant, can outperform both statistical and ML models, providing the most accurate forecasts.

Keywords: random forest; regression tree; pattern representation of time series; short-term load forecasting (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: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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