Load Forecasting in Smart Electrical Grids: State-of-the-Art Approaches, Challenges and Future Directions

The goal of the study presented in this article is to investigate all current issues related to the proper deployment of load forecasting (LF) techniques in smart grids (SGs). The latter concept has recently emerged as a potential solution to the global energy problem as well as to the ever-increasing and diverse consumer demands. To this end, more flexible dispersed production units are involved, mainly based on renewable energy sources (RESs). Another key novelty of SGs is their ability to gather information directly from consumers and production units in real time, thus facilitating optimum network planning and recovery as well as minimization of outage probability. Hence, it is important to use appropriate advanced infrastructure, which, in combination with modern telecommunication networks, will enable the full exploitation of SGs. In this context, to make the electricity system more efficient, avoid voltage and frequency imbalance issues and implement optimal production and consumption planning, LF is a vital process and plays a key role in the management of future electricity systems. Therefore, recent state-of-the art approaches in LF methods are also presented and discussed. In the same context, current limitations and proposals for future work are identified as well.