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.
Bibliographical noteFunding Information:
Funding: This research was supported in part by the Korea Electric Power Corporation (grant number: R18XA05) and in part by Energy Cloud R&D Program (grant number: 2019M3F2A1073179) through the National Research Foundation of Korea (NRF) funded by the Ministry of Science and ICT.
© 2020 by the authors.
- Combined cooling heating and power
- Economic analysis
- Energy operation plan
- Short-term load forecasting
- Two-stage forecasting model
ASJC Scopus subject areas
- Renewable Energy, Sustainability and the Environment
- Building and Construction
- Fuel Technology
- Engineering (miscellaneous)
- Energy Engineering and Power Technology
- Energy (miscellaneous)
- Control and Optimization
- Electrical and Electronic Engineering