Next day load forecasting using SVM

Abstract

Based on similar day method and SVM, this paper proposes a new method for next day load forecasting. The new method uses the parameters of several similar days, instead of only selecting one similar day as in similar day method. The parameters of selected similar days are used as inputs to SVM for forecasting the loads of 24 points (one hour per point) of the next day. The method behaves the advantages of both similar day method and SVM method, Corresponding software was developed and used to forecast the next day load in a practical power system and the final forecasting error is low. © Springer-Verlag Berlin Heidelberg 2005.