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  • Applicability of load forecasting techniques for customer energy storage control systems

    Author(s)
    Bennett, Christopher
    Moghimi, Mojtaba
    Hossain, MJ
    Lu, Junwei
    Stewart, Rodney A
    Griffith University Author(s)
    Lu, Junwei
    Stewart, Rodney A.
    Year published
    2015
    Metadata
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    Abstract
    There is an opportunity for commercial customers to use energy storage to charge during low load periods and discharge during peak load periods to reduce demand charges. Energy storage control systems that incorporate load forecasts have an economic relationship with forecast error. The less the forecast error is, the more economically feasible energy storage will be. A range of time series forecast models and exponential smoothing forecast algorithms were compared to determine their applicability for use in these energy storage control systems. Model coefficients were estimated by regression and an optimization algorithm. ...
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    There is an opportunity for commercial customers to use energy storage to charge during low load periods and discharge during peak load periods to reduce demand charges. Energy storage control systems that incorporate load forecasts have an economic relationship with forecast error. The less the forecast error is, the more economically feasible energy storage will be. A range of time series forecast models and exponential smoothing forecast algorithms were compared to determine their applicability for use in these energy storage control systems. Model coefficients were estimated by regression and an optimization algorithm. The ARIMA model and double exponential smoothing algorithm performed the best out of the developed set of models.
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    Conference Title
    2015 IEEE PES ASIA-PACIFIC POWER AND ENERGY ENGINEERING CONFERENCE (APPEEC)
    Volume
    2016-January
    DOI
    https://doi.org/10.1109/APPEEC.2015.7380906
    Subject
    Electrical energy generation (incl. renewables, excl. photovoltaics)
    Publication URI
    http://hdl.handle.net/10072/125409
    Collection
    • Conference outputs

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