Implementation of Smart Grid across the Country as Load Forecasting Helps to Provide Reliable And Quality Power Supply

Abstract

For any power company to decrease losses and boost efficiency, accurate load forecasting of energy demand is critical. Load Forecasting aids in the provision of a stable and high-quality power supply to consumers, which is critical for the deployment of Smart Grid across the country. In this study, we will analyse some of the available approaches for load forecasting and compare the performance of each method using the RMSE value as a performance metric. The approach with the lowest RMSE score has a higher level of accuracy and is more trustworthy. In our analysis, we also took into account the holidays and the temperature of the area, as these factors have a significant impact on the load consumption patterns of customers.