I recently developed a new course on long term load forecasting. The first offering is scheduled in Nashiville, TN, December 7-8, 2015. This offering includes a one-and-a-half days course and a half day post-course workshop. Below is a summary of the course and workshop. If you are interested, please find the registration link from Hong Analytics.
Long Term Load Forecasting
Load forecasting is a fundamental element in utility business operations and planning processes. During the past 120 plus years, load forecasting methodologies have evolved as the industry and related technologies progress. Consequently, many classical methods are no longer suitable in addressing today's challenges in the utility industry.
This course offers a comprehensive and in-depth treatment to long-term load forecasting. The content includes a review of the fundamental concepts and classical methods, a statistical approach that leverages high resolution data and modern computing power, probabilistic forecasting that helps better quantify the uncertainties of the unpredictable future, and several advanced and emerging challenges triggered by big data, renewable energy integration and demand side management programs. Real-world examples and case studies are embedded throughout the course when introducing the theories and methodologies.
Load Forecasting in MS Excel
This post-course workshop brings the long term load forecasting methodologies introduced in the course to the most widely-used business forecasting tool, spreadsheets. The workshop starts with an overview of various options available in the market, and then zooms into spreadsheet operations. We will demonstrate five different ways of doing forecasting in spreadsheets, and help the participants understand the limitations of each. The participants will gain hands on experience with building models and generating load forecasts in spreadsheets, while competing and collaborating with others.
Long Term Load Forecasting
Load forecasting is a fundamental element in utility business operations and planning processes. During the past 120 plus years, load forecasting methodologies have evolved as the industry and related technologies progress. Consequently, many classical methods are no longer suitable in addressing today's challenges in the utility industry.
This course offers a comprehensive and in-depth treatment to long-term load forecasting. The content includes a review of the fundamental concepts and classical methods, a statistical approach that leverages high resolution data and modern computing power, probabilistic forecasting that helps better quantify the uncertainties of the unpredictable future, and several advanced and emerging challenges triggered by big data, renewable energy integration and demand side management programs. Real-world examples and case studies are embedded throughout the course when introducing the theories and methodologies.
Load Forecasting in MS Excel
This post-course workshop brings the long term load forecasting methodologies introduced in the course to the most widely-used business forecasting tool, spreadsheets. The workshop starts with an overview of various options available in the market, and then zooms into spreadsheet operations. We will demonstrate five different ways of doing forecasting in spreadsheets, and help the participants understand the limitations of each. The participants will gain hands on experience with building models and generating load forecasts in spreadsheets, while competing and collaborating with others.
Key References
- NARUC report: load forecasting case study
- Probabilistic electric load forecasting: a tutorial review
- Long term probabilistic load forecasting and normalization with hourly information
- Load forecasting terminology
- Crystal ball lessons in predictive analytics
- Weather station selection for electric load forecasting
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