Towards Efficient Electricity Forecasting in Residential and Commercial Buildings: A Novel Hybrid CNN with a LSTM-AE based Framework.

Due to industrialization and the rising demand for energy, global energy consumption has been rapidly increasing. Recent studies show that the biggest portion of energy is consumed in residential buildings, i.e., in European Union countries up to 40% of the total energy is consumed by households. Most residential buildings and industrial zones are equipped with smart sensors such as metering electric sensors, that are inadequately utilized for better energy management. In this paper, we develop a hybrid convolutional neural network (CNN) with an long short-term memory autoencoder (LSTM-AE) model for future energy prediction in residential and commercial buildings. The central focus of this research work is to utilize the smart meters' data for energy forecasting in order to enable appropriate energy management in buildings. We performed extensive research using several deep learning-based forecasting models and proposed an optimal hybrid CNN with the LSTM-AE model. To the best of our knowledge, we are the first to incorporate the aforementioned models under the umbrella of a unified framework with some utility preprocessing. Initially, the CNN model extracts features from the input data, which are then fed to the LSTM-encoder to generate encoded sequences. The encoded sequences are decoded by another following LSTM-decoder to advance it to the final dense layer for energy prediction. The experimental results using different evaluation metrics show that the proposed hybrid model works well. Also, it records the smallest value for mean square error (MSE), mean absolute error (MAE), root mean square error (RMSE) and mean absolute percentage error (MAPE) when compared to other state-of-the-art forecasting methods over the UCI residential building dataset. Furthermore, we conducted experiments on Korean commercial building data and the results indicate that our proposed hybrid model is a worthy contribution to energy forecasting.