Title: Power Consumption Forecast Based on Ridge Regression Model
Abstract: The prediction of electricity consumption, economic development and industrial structure has gradually become the key issues concerned by the government and a large number of enterprises, accurate prediction of electricity consumption that can provide a good reference for the government and relevant enterprises. After analyzing the correlation between GDP, industrial structure and power consumption, we built the ridge regression prediction model. After comparing the results with mainstream LSTM and ARIMA models, we found that our MAPE value was superior to these models. Finally, we forecast the electricity consumption of Yunnan Province from 2021 to 2027, of which the electricity consumption in 2021 is about 2,172 billion KWH, and the electricity consumption in 2022 is about 2,243 billion KWh.
Publication Year: 2022
Publication Date: 2022-11-04
Language: en
Type: article
Indexed In: ['crossref']
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