Genetic Algorithm Based Optimized Feature Engineering and Hybrid Machine Learning for Effective Energy Consumption Prediction

Smart grids are developing rapidly, leading to the need for accurate forecasts of power consumption. However, developing a precise time series model for energy forecasting is difficult. It has to be trained using optimal meteorological features such as temperature and time lags to qualify for a beneficial model. We have proposed an approach that uses an ensemble machine learning model based on XGBoost, support vector regressor (SVR), and K-nearest neighbors (KNN) regressor algorithms. We have also used the genetic algorithm (GA) to predict total load consumption from optimal feature selection. Using Jeju island's electricity consumption data as a case study shows that the proposed ensemble model optimized with GA is more accurate than the individual machine learning models. Using only the best-selected weather and time features, the proposed model records all the features of a complicated time series and shows a reduction in the mean absolute percentage error (MAPE) and the root mean square log error for the week ahead forecasts. We got 3.35 % MAPE of the three months test data by applying the proposed model. The smart grids operators can manage resources effectively to provide excellent services to the consumers based on the recommended model outcomes.