Forecasting-Hourly-Energy-Consumption-with-Python
The energy sector is one of the largest and most important sectors out there. The ability to efficiently forecast hourly energy consumption plays an important role on how energy is distributed and consumed. Deep learning algorithms have played vital roles in prediction and forecasting problems alike. In this example, the deep learning algorithm technique known as Recurrent Neural Networks (RNN) and Long-Term Short Memory (LSTM) are applied on a time series data set consisting of hourly energy consumption for different counties according to their clients and activities with the aim of making forecast on future energy consumption. Models generally performed better by reducing batch size and by increasing epoch sizes. Having evaluated the results using RMSE, MAE and R2 scores, the LSTM and RNN models are both seen to have excellent performances in the forecasting of hourly energy consumption.