load forecasting
Load forecasting is the process of predicting future electricity demand for a specific area or system. It helps utility companies plan for energy production and distribution by estimating how much power will be needed at different times, such as during peak hours or seasonal changes. Accurate forecasts ensure that there is enough electricity available to meet consumer needs without overproducing.
There are various methods for load forecasting, including statistical techniques and machine learning algorithms. These methods analyze historical data, weather patterns, and economic indicators to improve prediction accuracy. Effective load forecasting is essential for maintaining a reliable and efficient power grid.