Analysis and forecasting of electric power energy consumption in IoT environments

Abstract

This study deals with analysis and forecast electric power energy consumption data considering socio-economic and demographical variables (gross domestic product - GDP, gross national income - GNI, Population - PP) through linear regression model and artificial neural network (ANN) model. The main purpose of this study is to predict the accuracy of energy consumption neither overestimation nor underestimation. To do this, the suggested study correlates socioeconomic and demographic variables (GDP, GNI, & PP) for energy consumption. Then, this study suggests four various models which consist of different combination of the variables. Through experiments, the suggested study compared and analyzed neural network models with linear regression models for the performance in energy consumption forecasting. Finally, this study suggests the best model for energy consumption forecasting in the result and conclusion section.