Short-Term Load Forecasting with a Novel Wavelet-Based Ensemble Method

“Short-term load forecasting (STLF)” is increasingly significant because of the extensive use distributed energy resources, incorporation intermitted RES, and implementation DSM. This paper provides a novel ensemble model with wavelet transform for STLF depending on decomposition principle profiles. The can effectively capture portion daily profiles caused by seasonal variations. results indicate that it possible to improve accuracy proposed method. approach tested data taken from Ontario’s electricity market in Canada. show technique performs well in-terms prediction when compared existing traditional cutting-edge methods. performance was validated different datasets. Moreover, this provide accurate using models. Therefore, utilities smart grid operators as an additional decision-making tool their real-time decisions.