A review on short-term load forecasting models for micro-grid application

Load forecasting (LF), particularly short-term load forecasting (STLF), plays a vital role throughout the operation of the conventional power system. The precise modelling and complex analyses of STLF have become more significant in advanced microgrid (MG) applications. Several models are proposed for STLF and tested successfully in the literature. The selection of a forecasting method is mostly based on data availability and its objectives. This article presents a survey of the latest analytical and approximation techniques reported in the literature to model STLF in an MG environment. This article mainly focusses on the review on important methods applied to forecast renewable energy availability, energy demand, and price and load demand. Different models, their main objectives, methodology, error percentage, and so forth, are critically reviewed and analysed. For quick reference, we have highlighted the important points in the form tables. The researchers can quickly identify and frame their research problem related to the LF area by reading this review paper.